Nasdaq 100 trades higher, buoyed by Atlassian Corp., The Trade Desk and GE Health Care

• The Nasdaq 100 is up marginally, 0.10% on the day.
• Atlassian Corp (TEAM) is up 3.61%, along with The Trade Desk (TTD) which is up 2.25% today.
• GE Healthcare (GEHC) shares are up 2.13%, hitting a nearly five-month high.
• Investors remain awaiting the Federal Reserve’s interest rate decision.

The Nasdaq 100 set a daily low at 19,338, finding buyers that pushed the index to a daily high at 19,491. The Nasdaq 100 is currently trading above 19,450, up 0.10% on the day.

GE Healthcare, The Trade Desk and Atlassian Corp keep the Nasdaq 100 in positive territory

The Nasdaq 100 is trading slightly higher, driven by medical technology and solutions provider GE Healthcare (GEHC), which is trading up 2.20% and trading at $88.70, reaching highs not seen since April 29.

In the same vein, Atlassian Corp (TEAM) is up 3.72%, trading at $161.62, although it remains within the range of the previous session. On the other hand, The Trade Desk (TTD) is up 2.33%, trading at $108.33 and reaching highs not seen since November 30, 2021.

Investors are focused on the Federal Reserve and its decision to cut rates, which could take the market to new all-time highs. Analysts expect a 50 basis point cut to 5.00% from 5.50%.

Technical levels on the Nasdaq 100

The Nasdaq 100 reacted to the upside at a short-term support at 18,394, given by the low of September 6. The next key support is at 17,272, the pivot point of August 5. The closest resistance is at 20,000, a closed number that converges with the 78.6% Fibonacci retracement.

Nasdaq 100 daily chart