FPG USTEC Market Report May 13, 2026

On the H4 timeframe chart, USTEC (Nasdaq-100) continues to record new all-time highs almost daily, reflecting extremely strong bullish momentum over the past several weeks. Price movement remains highly stable within a well-formed ascending channel that has been developing consistently since late March until now. The bullish rally initially started from the 22,781 area before continuing its aggressive upward expansion toward the latest all-time high around 29,370. Despite a recent short-term pullback from the peak, the current price is still trading around 29,000 and remains firmly inside the ascending channel structure, indicating that the broader bullish trend is still intact.

From a technical perspective, Bollinger Bands remain relatively wide, reflecting that market volatility is still elevated following the strong bullish expansion. Price is currently positioned near the middle-to-upper Bollinger Band area after briefly rejecting from the recent all-time high zone, suggesting that bullish momentum remains dominant despite temporary consolidation. The Bulls Power (13) indicator remains positive around 46.53, confirming that buying pressure is still active, although momentum has started to moderate compared to the strongest phase of the rally. Meanwhile, the Stochastic Oscillator (5,3,3) recently rebounded from near oversold territory and is currently around 50.09 / 34.22, indicating that short-term momentum is attempting to recover after the recent correction phase.

Recent USTEC movements have been supported by resilient corporate earnings, strong investor confidence, and continued buying interest in major technology shares. Markets are also closely monitoring Federal Reserve policy signals, inflation expectations, and Treasury yield movements, as these remain key drivers for growth stocks. At the same time, geopolitical tensions, oil price volatility, and global trade discussions continue creating cautious sentiment across financial markets. Overall, improving market sentiment and steady economic expectations continue supporting USTEC, which remains moving higher within an ascending channel.

Technical Market Overview
1. Current Position: USTEC is currently trading around 29,000, remaining inside a strong ascending channel that has been developing since late March. Price action continues to maintain a bullish structure with higher highs and higher lows, although a short-term consolidation phase is occurring following the latest all-time high formation around 29,370.
2. Resistance Zone: Immediate resistance is located at 29,370, representing the latest all-time high and the current upper boundary of the bullish expansion. A confirmed breakout above this level could open the path for further bullish continuation and additional record highs.
3. Support Zone: Nearest support is identified around 28,616, which aligns with the recent pullback area and the structure of the ascending channel. A deeper support zone is located near 26,988, representing a major structural support and a previous consolidation base within the broader bullish trend.
4. Indicator Observation: Technical indicators continue to reflect a dominant bullish outlook despite signs of temporary cooling momentum. Bollinger Bands remain relatively wide, signaling elevated volatility following the aggressive rally phase. The Bulls Power (13) indicator stays positive around 46.53, confirming that buyers still maintain overall market control. Meanwhile, the Stochastic Oscillator (5,3,3) has started rebounding from near oversold territory, suggesting that short-term bullish momentum is attempting to recover after the recent correction.
5. Technical Summary: Overall, USTEC maintains a strong bullish bias on the H4 timeframe as price continues moving within a well-established ascending channel near record-high territory. Although temporary consolidation and short-term pullbacks are occurring after the latest all-time high formation, the broader trend structure remains highly bullish. A successful breakout above 29,370 would reinforce bullish continuation toward new highs, while failure to hold above the nearest support zone could trigger a deeper corrective pullback within the broader uptrend structure.

Market Performance:
Indices       Last Price     % Change
US500        7,398              +0.03%
US30           49,753           −0.02%

Today’s Key Economic Calendar:
US: Fed Goolsbee Speech
US: Monthly Budget Statement
US: API Crude Oil Stock Change
JP: Current Account
AU: Home Loans QoQ
AU: Investment Lending for Homes
AU: Westpac Consumer Confidence Change & Index
DE: Wholesale Prices MoM & YoY
EU: Employment Change QoQ & YoY Preliminary
EU: Industrial Production MoM
US: MBA 30-Year Mortgage Rate
US: PPI MoM
US: EIA Crude Oil & Gasoline Stocks Change
US: Fed Collins Speech