What Happened Today, Tuesday September 22, 2026, 5:00 PM ET close
Nasdaq Sets a Record on Tech Strength While the S&P Barely Moves
Tech led the tape higher while the broader market waited on signals out of the Middle East.
ES and NQ at the close
NQ, Nasdaq 100 futures
31,002.00
+0.71% on the day
Day range 30,670.00 to 31,065.50
ES, S&P 500 futures
7,827.75
-0.07% on the day
Day range 7,810.50 to 7,848.50
How did our Futures Trading Algo Do Today?
Discipline
No qualifying setup showed up, so the book stayed flat instead of forcing a trade.
The automated book logged zero trades today. Nothing in the NQ or ES orderflow lined up with the rules for a valid Silver Bullet entry, so the system stayed in cash rather than chase the tech led move. That is the system working as designed, sitting out is a valid outcome when the setup is not there, not a missed opportunity.
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SPY and QQQ
The story
Nasdaq 100 futures pushed to a fresh intraday record on Tuesday, gaining 0.71 percent, as technology shares carried the market higher. The S&P 500 barely budged, slipping 0.07 percent, as strength in mega cap tech offset softness elsewhere. The split score card came against a backdrop of mixed signals out of the Middle East, with President Trump warning Iran in a UN speech that the US could respond forcefully without a deal, even as separate reports pointed to progress on reopening the Strait of Hormuz. Traders seemed to look past the noise and lean on the tech story instead.
The MAG7 and the megacaps
Once again it was the largest technology names doing most of the work. The Nasdaq 100 record came almost entirely from strength in mega cap tech, which was enough to pull the index to a new intraday high even while the rest of the market went nowhere. The S&P 500, which carries a lot more banks, industrials, and consumer names, could not keep pace, ending the day essentially flat. That gap between the two benchmarks is a reminder that a handful of large technology companies can move the headline numbers even on a quiet day everywhere else.
After the bell
Trump's UN warning on Iran
President Trump told the United Nations the US could "annihilate" Iran if no peace deal is reached, a blunt statement that added a headline risk premium to the session even as markets stayed calm.
Hormuz Strait conditions on the table
Iran reportedly submitted conditions for reopening the Strait of Hormuz to a US representative, according to state media, a potentially significant de-escalation signal for global energy flows.
Trump says a deal is nearing
Separate comments from Trump said talks with Iran are continuing and that he expects a settlement, a more conciliatory tone than his UN speech that likely helped keep risk appetite intact.
Nasdaq record on tech and Mideast hopes
Reuters noted the Nasdaq's intraday record came on a combination of tech sector strength and hopes for a negotiated outcome in the Middle East, tying the record directly to today's two big storylines.
Crypto
Bitcoin drifted lower, down 0.42 percent, trading between about 85,159 and 86,598 before settling near 86,242. The move was modest and looked more like normal chop than a reaction to any single headline. With stocks holding up and the tone in risk assets generally steady, bitcoin's small pullback looked like routine consolidation rather than a sign of stress.
Into the night
The overnight and early session narrative was dominated by the Middle East. President Trump told the UN he could "annihilate" Iran if a peace deal is not reached, a stark line that briefly raised the temperature. But other reporting suggested the two sides were closer than that warning implied, with Iran said to have submitted conditions for reopening the Strait of Hormuz to a US representative, and Trump himself saying a deal was nearing and talks were continuing. That mix of a hard public warning alongside quieter signs of progress is likely why futures did not swing wildly in either direction. Elsewhere, banks and telecom shares weighed on London's FTSE 100 as European traders also kept one eye on the same US Iran talks.
What is coming next
NQ resistance
31,065
Today's intraday high and the level bulls need to clear for a fresh breakout.
NQ support
30,670
Today's low; a close back under this would question the tech led strength.
ES range
7,810 to 7,849
The S&P spent the day boxed in here, watch for a break of either edge.
Iran headlines
Ongoing
Any confirmed movement on the Hormuz Strait or a formal deal announcement could move both stocks and oil quickly.
With the S&P 500 sitting nearly unchanged and the Nasdaq doing all the work, the next move likely depends on whether tech strength can broaden out or whether the rest of the market starts to catch down to it. The bigger swing factor remains the Middle East, where the gap between Trump's tougher UN language and the more optimistic private signals on a deal leaves room for a headline in either direction. Traders will want to watch the Hormuz Strait situation closely, since any real progress there tends to matter for both risk assets and energy prices.
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Educational market recap, not financial advice. Futures and options trading carry substantial risk of loss. Prices reflect the 2026-09-22 session close; charts are live and interactive. Always verify before acting.