NASDAQ 100 Price Forecast – NASDAQ 100 Continues to See Noise

NASDAQ 100 Technical Analysis

The NASDAQ 100 rallied a bit during the early hours on Thursday as we tried to recover from whatever happened on Wednesday. At this point in time, I think you have to look at this through the prism of a market that doesn’t really know what to do with itself and therefore you are going to have to be very cautious with your position sizing.

Nonetheless, we are what I believe currently stuck in the middle of a consolidation phase with the $17,850 level above as resistance and the $17,000 level below as support. Currently, we are dead smack in the middle of this. So, with that being said, I think it’s more or less a 50-50 ball meaning that…

It can go either way and therefore I wouldn’t get overly excited One direction or the other once we break out of this 850 point range though things could change in the short term You would assume that the bias is somewhat to the upside just because that’s a fairly safe assumption with the Nasdaq 100 in general as it is not an equal weighted index.

Regardless, I’m not overly interested in putting on big positions at this point after the price action that we saw on Wednesday, which was horrific to say the least. Nonetheless, there is a lot of support underneath, so I don’t necessarily want to short the index either.

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