Nasdaq 100 jumps 1.9% to 29,155 as the chip rebound puts a record back in view
The Nasdaq 100 surged 1.9% on Tuesday to close at 29,155, adding 551 points as semiconductor stocks extended their rebound. The catalyst was hard data: strong export figures out of Taiwan and South Korea reinforced the read that AI-chip demand is still accelerating, not rolling over — exactly the fear that drove the mid-July chip rout.
Why it matters. This is the same index that cratered on the TSMC-capex chip selloff a week ago, bottoming near 28,800. The V-shaped recovery says the market has re-classified that drop as a growth scare, not a demand break. When the export data from the two economies that build the world's chips comes in hot, it undercuts the bear thesis at the source. The move also drags the broader tape: risk appetite firmed across equities and even crypto on the same session, a textbook risk-on day led by the highest-beta corner of the market.
Technical analysis
The recovery reclaimed the levels the rout broke. First support is the 28,800 shelf — the July chip-rout low and now the line that has to hold to keep the recovery intact. Below it sits the 28,500 gap. Overhead, the index is pressing back toward its record zone near 29,400–29,500; a daily close through that band would put the Nasdaq 100 into price discovery, where measured-move math points higher with no overhead supply. Breadth is the caveat: this is a chip-led move, and a narrow rally is more fragile than a broad one — watch whether the advance broadens beyond semis over the next sessions.
BeCoin's forecast read. The model's 24-hour and weekly paths lean positive while 28,800 holds — trend-following signals stay long. Its month view carries more caution: a record retested on narrow, chip-only breadth is exactly the setup that produces sharp two-way volatility. Translation: respect the trend, but this is a market to hold with defined risk into the record, not to chase on leverage. See how the index maps across horizons on the BeCoin market forecast hub.
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