NASDAQ 100, Dow Jones 30 and S&P 500 Forecast – US Indices Look to Bounce

Nasdaq 100 Technical Analysis

The Nasdaq 100 has broken above the 20,000 level, an area that, of course, has a lot of psychology attached to it in the pre-market trading on Monday, and as a result, I’m watching this index very closely because one of my main criteria for getting interested in buying the NASDAQ has been whether or not we can close above this level. If we can, then it’s very possible that we will continue to go higher. After all, it would make a certain amount of sense to see a bear market rally, especially after the extreme negativity of this market. But as things stand right now, I would anticipate that volatility continues.

Dow Jones 30 Technical Analysis

The Dow Jones 30 has also rallied quite nicely in the early hours on Monday, as we are well above the 200 day EMA. By performing the way it has, it does suggest that we are ready to continue going higher. But again, I want to see how the day closes. If we can hold this type of momentum, then we may have a rally that lasts for several days.

S&P 500 Technical Analysis

The S&P 500, like the other indices, has rallied and is now above the 200-day EMA. If we can continue the momentum, then I’d be looking for a move to the 5,800 level. Short-term pullbacks do make a certain amount of sense, but I would anticipate those ending up being buying opportunities at the moment, at least until we break below the 5,600 level. Again, I think this is more or less going to be a bit of an oversold bounce because the fundamentals really haven’t changed that much, although it seems like the Donald Trump administration might be a little bit more flexible about those tariffs, so that obviously could help risk appetite overall.

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