NASDAQ 100, Dow Jones and S&P 500 Forecast – US Indices Rocked by Tariffs

NASDAQ 100 Technical Analysis

The US indices have all been pretty shaken up overnight as Donald Trump announced tariffs. The Nasdaq 100, of course, would be one of the bigger ones to get hit, and you see a lot of volume come into the market as it slammed below the 21,000 level. Quite frankly though, it does look like the range is trying to hold, and with that being the case I think you’ve got a situation where you probably buy the dip. However, it’s also a situation where later today when Trump speaks to Trudeau and Sheinbaum of Mexico, it’s possible that things get worse and not better.

So, you have to take everything with a grain of salt right now. That being said, this is a market that’s been positive for a long time and then we’ve gone sideways. I think you do have a situation where regardless, you need to look to the upside but recognize that things are going to be volatile.

Dow Jones 30 Technical Analysis

The Dow Jones 30 has gapped to the downside, and it really hasn’t recovered like the NASDAQ 100 has, but it also hasn’t reached support. So, with that being said, it may be a bit of a laggard again, and that does make a certain amount of sense considering that the major industrials would be right in the crosshairs of tariffs from both Mexico and Canada.

Regardless, if we can break down below the 43,500 level, then I think things will get a little uglier. I am looking for the market to bounce though, I am just not willing to try to front run it.

S&P 500 Technical Analysis

The S&P 500 has gapped lower and is just sitting there. I think it will try to fill the gap a little bit later, but the question will be what happens with those telephone conversations. At this point, it isn’t a technical market at all, other than we are still in consolidation after a big run higher. So, you’re basically waiting to see how this plays out with Trump, Mexico and Canada, and now very possibly the European Union.

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