US Tech forecast: the index continues to trade sideways

The US Tech index is trading sideways, but further gains remain likely. The US Tech forecast for next week is positive.

US Tech forecast: key takeaways

• Recent data: US Nonfarm Payrolls came in at 57 thousand in June 2026
• Market impact: the current data has a mixed impact on the technology sector

US Tech fundamental analysis

US Nonfarm Payrolls data came in significantly weaker than expected: the actual increase was 57 thousand, below the forecast of 114 thousand and the previous reading of 129 thousand. These statistics indicate a slowdown in the labour market and may become a significant signal for investors, as employment directly affects consumer spending, inflation expectations, and future Federal Reserve decisions.

For the US Tech index, the impact may be two-sided. On the one hand, a weak employment report increases the likelihood that the Federal Reserve will take a more cautious approach to maintaining tight monetary policy. For technology companies, this is typically a positive factor, as their valuations are sensitive to the cost of capital: lower bond yields and expectations of looser policy may drive demand for growth stocks. In this scenario, the US Tech may receive short-term support.

US Tech technical analysis

The release of such data may lead to elevated volatility in the broader US stock market. Investors may initially respond with buying on expectations of more accommodative Fed policy, but attention may then shift to the sustainability of corporate earnings. If the labour market continues to cool, this may lead to slower consumer demand, weaker business activity, and more cautious company forecasts for future periods.

The US Tech index continues its corrective movement, although further decline may gradually shift into a consolidation phase. The nearest resistance level has formed around 30,690.0, while key support is located near 28,415.0. The current uptrend remains intact for now, but if momentum wanes, it may transform into sideways movement. If growth resumes, the next potential target for the index could be 31,895.0.

The US Tech price forecast outlines the following scenarios:

• Pessimistic US Tech forecast: a breakout below the 28,415.0 support level could send the index down to 27,525.0
• Optimistic US Tech scenario: a breakout above the 30,690.0 resistance level could drive the index up to 31,895.0

Summary

Overall, the report is rather concerning for assessing the state of the US economy, but potentially supportive for the US Tech through expectations for softer Federal Reserve policy. The US Tech index may see a short-term upside move as rate expectations decline, although the sustainability of this movement will depend on whether the market starts to price in a more severe economic slowdown. If subsequent macroeconomic data confirms a deterioration in business activity, the positive effect from expectations of rate cuts may quickly give way to pressure on equities. The nearest upside target could be 31,895.0.

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