NASDAQ 100 Forecast – NASDAQ 100 Continues to See Buyers Overall

NASDAQ 100 Technical Analysis

The NASDAQ 100 is still very noisy and at this point in time, it looks like we are going to hang around the 19,500 level. All things being equal, this is a market that I think continues to be very noisy overall as the 19,500 level is an area that has shown itself to be important multiple times, and it is worth noting that it’s the bottom of a 500 point range.

The 20,000 level above is a large round psychologically significant figure and an area that we have seen a lot of resistance previously. If we were to break above the 20,000 level, then at that point in time I think it allows more of a buy on hold type of situation. Underneath we have a lot of support near the 19,350 level so if we get below the 19,350 level then we

in general, this is a market that I think has been very choppy and kind of lost, perhaps trying to work off some of the excess froth from the previous couple of weeks. So, with that being said, I think the NASDAQ 100 is still kind of hanging around trying to figure out what to do next with the PCE numbers coming on Friday. I think it’s likely that a lot of people will be paying close attention to the decision once that comes out, as it is a major indicator that the Federal Reserve pays attention to.

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