NASDAQ 100, Dow Jones 30 and S&P 500 Forecast – US Indices Continue to Build Pressures

NASDAQ 100 Technical Analysis

The NASDAQ 100 initially did try to rally a bit during the early hours on Friday, but it has turned around as it looks like there is a little bit of resistance above the $22,000 level that will continue to be a problem. However, it’s worth noting that a short-term pullback is likely to be a buying opportunity with the 50-day EMA underneath and the $21,000 level underneath offering support. On the other hand, if we can turn around and break above the $22,150 level, then I think we’re free to go much higher, and I do think that happens given enough time.

Dow Jones 30 Technical Analysis

The Dow Jones 30 pulled back just a bit of negativity creeping into the market, but really at this point, I think this is a market that is still in the possibility of trying to form some type of bullish flag. If you turn around and break above the 45,000 level, then the market could go much higher.

If it does, that should lead to about a 3,000 point move to the 48,000 level based on the measured move of the bullish flag. Either way, I think short-term pullbacks. offer buying opportunities with 50 day EMA underneath, offering plenty of support.

S&P 500 Technical Analysis

The S&P 500 initially did try to rally a bit during the session. And at this point, if we can break above the 6,125 level, then the market could really go much higher. Short-term pullbacks, I think, are buying opportunities with the 50 day EMA running into the 6,000 level to offer plenty of support.

Ultimately, this is a market that I think continues to see a lot of buyers, but I also think we’ve got a lot of noise as people are worried about tariffs and the like coming out of the United States.

For a look at all of today’s economic events, check out our economic calendar.