NASDAQ 100, Dow Jones 30 and S&P 500 Forecast – US Indices Continue to Wait for Tariffs

NASDAQ 100 Technical Analysis

The NASDAQ 100 initially tried to rally but then gave back gains to show signs of negativity, as we wait for those tariffs coming out of the United States at the end of the session. The so called Liberation Day by the Donald Trump administration has the markets nervous and therefore we don’t really know what to do and I think a lot of traders are just simply on the sidelines.

It is worth noting that we have had a nice recovery on both Monday and Tuesday. So, I think the market wants to go higher, but the question is whether or not it will get good news at the end of the session to make that happen. At this point, it’s more or less a coin flip.

Dow Jones 30 Technical Analysis

The Dow Jones 30 found the 200 day EMA offering pretty significant resistance above the 42,000 level and pulling back the way it has I think this is a situation where we are just killing time in this range. And again, we are just waiting for those tariffs.

It’ll be interesting to see how this behaves, but keep in mind that the announcement comes out at the end of the trading session. So, the real reaction will be the first moments of the Thursday session. It could be rather chaotic and therefore again, this is probably a market that you’re just killing time in.

S&P 500 Technical Analysis

The S&P 500 initially did try to rally, but it now finds itself back at the 5600 level at the time of recording as we just don’t have a lot of risks, we’re taking out there right now. If the tariffs end up being pretty brutal, I could send this market right back down to the lows where we formed that potential double bottom.

On the other hand, if the market perceives them as being flexible, then the 200 day EMA could be the target. And again, there’s the rub. The announcement comes out at the end of the session. And until we get that out of the way, there really isn’t a whole lot to confirm or be comfortable with in the stock indices.

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