Major US Indices Forecast, September 19, 2017, Technical Analysis

S&P 500

The S&P 500 gapped higher at the open on Monday and then pulled back closer to the 2500 level just before New York opened. We then exploded to the upside, and have seen buyers jump back into this market after a short-term dip. The S&P 500 looks likely to continue going higher now that we have cleared the 2500 level, which is a psychological victory for the buyers. Because of this, I believe the dips continue to offer buying opportunities, and that the 2500 level should act as a bit of a “floor” in this market… Read More

Dow Jones 30

The Dow Jones 30 went sideways in general, but then found plenty of buying pressure near the 22,300 level on Monday to continue rallying. I believe that this market will continue to find buyers overall and that we will eventually reach towards the 22,500 level. Because of the signs of strength, I think that we are going to continue to grind higher, I don’t think that we are going to explode though. Certainly, the positivity of the market seems to be continuing, so the bullish pressure is expected… Read More

NASDAQ 100

The NASDAQ 100 has broken out to fresh, new highs during the session on Monday, as the 6000 level should now offer support. Because of this, I am a buyer and I believe that we will eventually reach towards the 6050 level over the next several sessions, if not weeks. I believe in buying dips on short-term charts should continue to be a good way to go forward… Read More