NASDAQ 100 Price Forecast – NASDAQ 100 Continues to Levitate

NASDAQ 100 Technical Analysis

The NASDAQ 100 did very little in the early hours on Thursday after surging higher during the late Wednesday session. At this point, it does look like it remains a buy on the dip market. And with the 19,500 level being an obvious round figure and target, I think that might be where we end up going. Short-term pullbacks at this point in time should see plenty of support near the 19,000 level. And then after that, the 18,750 region. This is an area that’s been important a couple of times on shorter term charts, and I also suspect that there will be enough order flow from options traders to keep it somewhat afloat.

In general, I think this is a market that continues to see plenty of buyers due to the idea that the Federal Reserve is in fact going to continue to cut rates. As long as that is the situation and it’s not some type of panic cutting situation, I think traders will continue to look at this through the overall outlook of risk on. Ultimately, I do have the 18,500 level as your floor in the market in the time being.

If we were to break down below there, then I think things change. But quite frankly, most indices around the world look the same. And of course, the NASDAQ 100 will enjoy the idea of cheap money coming down the road. This of course helps technology and speculative companies get more financing, making the stock market as an attractive place to be.

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