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Chip Sell-Off Caps The Nasdaq 100 Below 30,950 As Bank Results Split Wall Street | Technical Analysis - Index Report | 13-10-2026 - Capital Street FX Skip to main content

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Chip Sell-Off Caps the Nasdaq 100 Below 30,950 as Bank Results Split Wall Street | Technical Analysis – Index Report | 13-10-2026

October 13, 2026
CSFX ResearchDesk
Indices today, 13 Oct S&P 500 7,807.24 −0.06% Trade setups

Indices Today | Tuesday 13 October 2026

Chip Sell-Off Caps the Nasdaq 100 Below 30,950 as Bank Results Split Wall Street

Market Overview

Wall Street opened on Tuesday 13 October split between a memory-chip sell-off and the first big bank results of the season. Reports that China’s CXMT is moving into server DRAM hit chipmakers worldwide and kept the Nasdaq 100 under pressure near 30,664.70. Banks pulled the other way: JPMorgan reversed from 344.36 after a rare earnings miss, while gains in UnitedHealth and Goldman Sachs lifted the Dow. In Europe, the FTSE 100 rose 0.48% to 10,707.82 on banks and pharma ahead of the 15:30 GMT close, while chip-linked Infineon held the DAX flat. For the desk, the S&P 500 uptrend holds, while chip stocks and European indices stay vulnerable into Wednesday’s US inflation data.

Key highlights

  • Yields: the US 10-year yield near 5.24%, below the 5.35% reached on 7 October, still caps valuations on growth shares.
  • Breadth: only about 35% of S&P 500 stocks trade above their 50-day average, according to Schwab, so leadership remains narrow.
  • Fed pricing: markets price a December rate hike at 75% to 88%, with the Federal Reserve (Fed) deciding on 28 October.
  • Oil: Brent near $105 to $106 keeps an inflation risk in place for central banks on both sides of the Atlantic.
  • Germany: the next domestic test, the ZEW sentiment survey, is not due until 20 October, leaving the DAX tied to US data and chip stocks.
  • Asia: the KOSPI fell 5.46% to its lowest close since late July, while the Hang Seng edged up 0.30%.

What’s Moving Indices Today

Critical Weighs on tech

CXMT Server DRAM Reports Hit Chipmakers From Seoul to New York

Samsung Electronics fell 7.39% and SK hynix 10.09% in Seoul, and Micron, AMD and Nvidia fell 5.8%, 3.3% and 1.3% in early US trade.

Source: Korea JoongAng Daily and Bloomberg, 13 Oct 2026

High Two-way risk

JPMorgan Misses While Goldman Sachs and UnitedHealth Lift the Dow

JPMorgan’s adjusted earnings of $5.75 a share missed the $5.90 consensus, and Citigroup and Wells Fargo raised loan-loss provisions as bank earnings season began.

Source: Benzinga and Bloomberg, 13 Oct 2026

High Lifts UK stocks

Banks and Pharma Extend the FTSE 100 Rebound to a Third Session

HSBC rose more than 1%, Lloyds and Barclays about 1.5%, and AstraZeneca and GSK about 2%, while Infineon fell about 4% in Frankfurt.

Source: Trading Economics, 13 Oct 2026

Key Drivers Today

Five readings and events that set direction for the major stock indices. All times are GMT.

Memory chip stocks
Under pressure
CXMT server DRAM reports
US 10-year yield
~5.24%
Dollar index near 102.4
European cash close
FTSE, DAX
Closing auction sets daily candles
US CPI (Sep)
+0.6% m/m exp.
Core +0.2% m/m exp.
FOMC decision
Rate decision
Hike risk partly priced

Swipe the strip to see every driver.

Trade Setups for Today

Ranked by conviction and valid for today’s session. A 1-hour close beyond the stop cancels the idea.

Indices trade setups, Tuesday 13 October 2026
IndexDirectionEntryStopTarget 1Target 2Reward:riskConviction
S&P 500Long7,7157,6407,8457,9601.7 / 3.3Medium
Nasdaq 100Short30,95031,35030,39029,8201.4 / 2.8Low
DAX 40Short25,42025,60025,00024,7502.3 / 3.7Low
FTSE 100Short10,78010,88010,62010,4501.6 / 3.3Low
Hang SengShort24,49024,74024,00023,7002.0 / 3.2Low
KOSPIShort6,3506,6005,8505,4502.0 / 3.6Low

Reward:risk is the distance from entry to each target divided by the distance from entry to the stop. The S&P 500 long and the index shorts partly offset each other, so treat them as one equity book. Levels are conditional technical references, not recommendations.

Chip Sell-Off Scenario Analysis

Chipmakers set the tone for the US session after the sell-off spread from Seoul to Micron, AMD and Nvidia. The three indices below react most to what chip stocks do next.

Sell-off extends: memory and AI chip stocks fail to recover in the US session

Deeper losses in index heavyweights would pull the Nasdaq 100 toward its averages and drag the DAX and the S&P 500 lower with it.

  • Nasdaq 10030,390, then 29,820
  • S&P 5007,715, then 7,640
  • DAX 4025,000, then 24,750

Chips stabilise: memory stocks recover part of the opening losses

A steadier chip sector would let the S&P 500 retest its record and lift the Nasdaq 100 and the DAX back into resistance.

  • Nasdaq 10030,950, then 31,350
  • S&P 5007,845, then 7,960
  • DAX 4025,420, then 25,600

S&P 500 | US500, United States

S&P 500 Analysis: Index Holds Above the 7,715 Average Cluster as Banks Offset Chip Weakness

7,807.24 −4.30 (−0.06%) Monday Monday range 7,796.94–7,821.67

Outlook: Bias is bullish while the S&P 500 holds the 7,703–7,714 average cluster. The index closed Monday at 7,807.24, about 0.5% under last week’s record near 7,845, and traded slightly lower after the 13:30 GMT open.

S&P 500, daily chart, 13:39 GMT. Price holds the upper half of a rising channel above all three averages.

Key levels

Support 2
7,640
Support 1
7,715
Resistance 1
7,845
Resistance 2
7,960
  • A rising channel from the late-July low near 7,300 contains price, with its lower line near 7,600 and its upper line near 8,090.
  • The 7,714.14 and 7,703.27 averages converge as first support above the 7,587.39 long average; RSI at 59.42 is above its 55.32 signal.

Setup: Long at 7,715, stop 7,640, targets 7,845 and 7,960. Reward:risk 1.7 / 3.3, medium conviction.

Nasdaq 100 | US100, United States

Nasdaq 100 Analysis: Chip Sell-Off Keeps the Index Below 30,950 Resistance

30,664.70 −218.45 (−0.71%) Monday Monday range 30,618.65–30,813.96

Outlook: The bias leans bearish under 30,950 while memory stocks stay under pressure. The Nasdaq 100 closed Monday at 30,664.70 after a 0.71% fall, and chipmakers led early losses on Tuesday as the Seoul sell-off spread to New York.

Nasdaq 100, daily chart, 13:39 GMT. Price slips from its early-October high toward the fast average inside a rising channel.

Key levels

Support 2
29,820
Support 1
30,390
Resistance 1
30,950
Resistance 2
31,350
  • The channel that has guided price higher since the late-July low near 27,000 is intact, but price turned down from the early-October high near 31,300.
  • The 30,390.75 fast average is first support above the 29,822.55 and 29,606.11 averages; RSI at 62.75 is turning lower from near 70.

Setup: Short at 30,950, stop 31,350, targets 30,390 and 29,820. Reward:risk 1.4 / 2.8, low conviction.

DAX 40 | DE40, Germany

DAX 40 Analysis: Rejection at the 25,416 Average Keeps Price Below 25,420

25,283.66 +5.98 (+0.02%) day Day range 25,270.29–25,453.29

Outlook: Under the 25,416 average, the DAX bias is neutral with a bearish tilt. The DAX 40 held 25,283.66, flat on the day, as chip-linked losses offset gains in Deutsche Telekom, Vonovia and Symrise before the 15:30 GMT close.

DAX 40, daily chart, 13:39 GMT. Price sits on the 25,310 average and under two falling averages inside a wide channel.

Key levels

Support 2
24,750
Support 1
25,000
Resistance 1
25,420
Resistance 2
25,600
  • A wide rising channel from the March low near 21,900 holds price, and the early-October low near 24,750 marks the floor zone.
  • Tuesday’s 25,453.29 high failed at the 25,416.17 average, with the 25,766.63 average above; RSI at 47.67 sits above its 42.52 signal.

Setup: Short at 25,420, stop 25,600, targets 25,000 and 24,750. Reward:risk 2.3 / 3.7, low conviction.

FTSE 100 | UK100, United Kingdom

FTSE 100 Analysis: Three-Day Rebound Meets the Broken Trendline Near 10,780

10,707.82 +51.54 (+0.48%) day Day range 10,656.15–10,762.01

Outlook: Bias is neutral to bearish below 10,780, the underside of the broken rising trendline. The FTSE 100 added a third day of gains as oil and gilt yields eased, but the rebound now meets resistance.

FTSE 100, daily chart, 13:39 GMT. Price rebounds to the broken rising trendline and the falling resistance line.

Key levels

Support 2
10,450
Support 1
10,620
Resistance 1
10,780
Resistance 2
10,880
  • Price broke a rising trendline from the March low near 9,690 in late September; that line near 10,780 and a falling line near 10,830 cap the rebound.
  • The 10,721.68 average sits just above price, with the 10,625.54 and 10,618.26 averages below; the early-October low near 10,360 is major support.

Setup: Short at 10,780, stop 10,880, targets 10,620 and 10,450. Reward:risk 1.6 / 3.3, low conviction.

Hang Seng | HK50, Hong Kong

Hang Seng Analysis: Close at the Day’s High Leaves Price Under the 24,490 Average

24,345.22 +74.02 (+0.30%) close Day range 23,987.77–24,345.22

Outlook: Bias is bearish below the 24,489 average inside a falling channel. The Hang Seng closed on its high after recovering an early 1% loss, holding up better than Seoul and Tokyo.

Hang Seng, daily chart, 13:39 GMT. Price rebounds from the lower half of a falling channel under three averages.

Key levels

Support 2
23,700
Support 1
24,000
Resistance 1
24,490
Resistance 2
24,740
  • A falling channel from the late-July high near 26,200 frames price, with the lower line near 23,600 and the early-October low near 23,700.
  • The 24,489.42, 24,839.03 and 25,080.28 averages sit above price; RSI at 45.05 is above its 39.42 signal but under 50.

Setup: Short at 24,490, stop 24,740, targets 24,000 and 23,700. Reward:risk 2.0 / 3.2, low conviction.

KOSPI | KOSPI, South Korea

KOSPI Analysis: Chip Rout Breaks the Rising Channel and Leaves Price Below 6,350

6,035.35 −348.89 (−5.46%) close Day range 5,911.11–6,198.46

Outlook: Bias is bearish below 6,350, Monday’s close area, though RSI near 30 warns of a relief bounce first. Samsung Electronics and SK hynix, more than half of the index weight, led the fall.

KOSPI, daily chart, 13:39 GMT. Price falls through the channel floor and every average, with RSI at the oversold line.

Key levels

Support 2
5,450
Support 1
5,850
Resistance 1
6,350
Resistance 2
6,600
  • Price fell out of the uptrend channel built from the late-July low near 5,300, and the old floor near 6,700 is now resistance.
  • The 6,684.68, 6,802.71 and 7,263.29 averages sit far above price, and RSI at 29.87 is at the oversold line.

Setup: Short at 6,350, stop 6,600, targets 5,850 and 5,450. Reward:risk 2.0 / 3.6, low conviction.

Conclusion

Chips and banks decide the US session: memory-stock losses weigh on the Nasdaq 100, while results from JPMorgan, Goldman Sachs and UnitedHealth keep the Dow and the S&P 500 close to their highs. The desk’s preferred trade is an S&P 500 long on a pullback, with smaller shorts in the Nasdaq 100, DAX 40 and FTSE 100 and only light exposure in Asia after a sharp fall. US CPI on Wednesday at 12:30 GMT is the next gap risk, so reduce size before it.

Trade the S&P 500, Nasdaq 100, DAX 40, FTSE 100 and other major indices with Capital Street FX.

Frequently Asked Questions

Why are chip stocks falling today?

Server DRAM is dominated by Samsung, SK hynix and Micron. A credible new Chinese supplier would mean more competition and lower memory prices, so investors cut chip holdings from Seoul to New York.

How do bank earnings affect the S&P 500 and the Dow?

Banks and insurers carry heavy weight in the Dow and in the S&P 500 financial sector, so results that beat or miss expectations set the tone for earnings season before the large technology companies report later in October.

What time do European stock markets close in GMT?

The FTSE 100 and DAX 40 cash markets close at 15:30 GMT until 23 October 2026. After European clocks change on 25 October, both close at 16:30 GMT.

Why is the KOSPI so sensitive to memory chips?

Samsung Electronics and SK hynix make up more than half of the KOSPI's weight, according to TradingKey, so news about DRAM prices or competition moves the whole index, as Tuesday's 5.46% fall showed.

Capital Street Research Desk

The Capital Street FX research team publishes analysis across forex, commodities, bonds, indices, shares and crypto, focused on the levels and events that matter to active traders.

Index prices, moving averages and RSI are read from the TradingView daily charts in this report between 13:34 GMT and 13:39 GMT on 13 October 2026; US index prices are Monday’s closes, before the 13:30 GMT open was reflected on the charts. News from Bloomberg, Benzinga, Korea JoongAng Daily, Trading Economics, TradingKey and Schwab. Consensus figures and probabilities differ between providers and may change. All times are GMT. Verify prices against live quotes before trading.

This report is for information and education only and does not constitute investment advice. Trading indices on margin carries a high risk of losing money rapidly due to leverage, and prices can gap around data releases, central-bank decisions, earnings and geopolitical events. Levels and trade setups are conditional technical references, not recommendations. Past performance is not a reliable indicator of future results.