NASDAQ 100 Price Forecast – NASDAQ 100 Continues to Attempt a Move Higher

NASDAQ 100 Technical Analysis

The NASDAQ 100 has been rather choppy, but slightly positive over the course of the last week or so after initially plunging. At this point, we have to determine whether or not the market is actually going to turn things around for a bigger move or if we’re just simply going to have a bit of a bounce and continue to see selling pressure. This is probably going to be the way forward for a lot of trading, and therefore you need to be very careful with your position size, and of course leverage.

The market is likely to be very noisy and I think at this point in time, if we can continue to grind higher, the 19,000 level would probably be the target. On the other hand, if we do roll over and break down below the 18,250 level, then it’s possible that we could continue to drop from there, maybe going down to the 17,750 level.

Keep in mind that there’s a lot of concern out there when it comes to risk, but we are already starting to hear the narrative that everything is perfectly fine and therefore people are starting to push money back into this market. Those are a couple of levels that I’m paying attention to determine where the next 250 or maybe even 500 points come from. Longer term though, I still have a lot of doubts because there’s been a lot of technical damage done in this market recently.

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