NASDAQ 100, Dow Jones 30 and S&P 500 Forecast – US Indices Looking for the Floor

NASDAQ 100 Technical Analysis

The NASDAQ 100 looks like it is trying to stabilize a bit during the trading session in pre-market trading on Tuesday, but we’ll have to wait and see if people start actually putting money back to work. Lately, there has been a lot of negativity entering the market, but when you look at the longer term trend, it doesn’t really look a lot different than it has for several months.

It’s just been a couple of rough days. With that being said, I think you have a situation where if we can break back above the 50-day EMA, it’s likely that we could go looking to the 22,000 level. At this point, 21,000 looks like it is still a major support.

Dow Jones 30 Technical Analysis

The Dow Jones 30 is fairly sideways in pre-market trading. This market has underperformed many of the others until the last couple of days. So perhaps we are starting to see a rotation into industrials. If that is in fact going to be the case, then I think you have to look at this through the prism of a market that might lead the way. If we can break above the highs from the previous session, then we could see a move towards the 50 day EMA and then possibly further from there.

S&P 500 Technical Analysis

The S&P 500 has been hanging around the 6000 level yet again, and at this point in time, I think you have to wonder whether or not we are going to get some type of shot higher. A move above the 50 day EMA opens up the possibility of 6125 being targeted again, but right now, I think we are still in more or less a wait and see mode, and just trying to sort out whether or not traders are willing to put money back into the market with all of the concerns about tariffs, geopolitics, etc.

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