Analytical Report: Why Is Nasdaq Rising? What Do Technical Indicators Reveal About the Market's Next Move?

July 22, 2026 –The Nasdaq Composite Index (IXIC) climbed 1.29% to close at 25,837.21 points, supported by strong gains in technology stocks as investors awaited earnings reports from major companies, including Alphabet and Tesla.

Market participants believe these upcoming results could play a key role in shaping the index's direction over the coming days.

What Technical Indicators Suggest About the Next Market Move?

Despite the positive session, technical indicators continue to paint a balanced picture. The index opened at 25,772.55 points, traded between 25,672.83 and 25,880.34 during the session, and finished with solid gains.

Over the longer term, the Nasdaq has risen 23.67% over the past 12 months, 10.25% in the last six months, and 4.78% over the past three months. However, it remains down 1.64% over the past week and 1.26% over the past month, reflecting continued short-term volatility despite the broader upward trend.

​What's Fueling the Rally and What Comes Next?

The latest rally was driven by sustained demand for technology shares, while optimism surrounding continued investment in artificial intelligence and digital infrastructure helped support investor sentiment.

At the same time, technical indicators present mixed signals. The daily outlook remains neutral, overall technical indicators suggest a Strong Buy, moving averages indicate Sell, while both the weekly and monthly outlooks continue to signal Strong Buy.

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This suggests that the long-term trend remains positive, although the market may still be in a short-term consolidation phase before making its next significant move.

what are the top performing stocks?

Among the session's top-performing stocks were:

ohmhome, which surged 222.7%,Smart Logistics Global, up 92.3%, and Jianzi Holdings, which gained 67.8%. On the downside, Li Bang International fell 71.9%, Smart Power declined 67.9%, and Zhengye Biotechnology dropped 64.4%, highlighting the continued volatility in U.S.

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what comes next?​

small-cap stocks. Looking ahead, stronger-than-expected earnings from major technology companies could push the Nasdaq toward new highs. However, weaker corporate results, rising interest rate concerns, or escalating geopolitical tensions could trigger short-term profit-taking.

Analysts continue to recommend focusing on fundamentally strong companies while closely monitoring earnings reports and key economic data, which are expected to remain the primary drivers of technology stocks in the weeks ahead.