NASDAQ 100 Price Forecast – NASDAQ 100 Continues to Look Bullish Overall

NASDAQ 100 Technical Analysis

The NASDAQ 100 has been somewhat quiet over the last day or two, but really at this point in time, the market also has to look at itself through the prism of whether or not the FOMC meeting minutes later in the day will confirm or perhaps go against the traditional wisdom that the market is expecting massive rate cuts coming out of the Federal Reserve. That being said, I think you also have to be very cautious about simply chasing a market.

And with that, I also recognize the markets are noisy to say the least and certainly positive. So, if we do get some type of knee jerk reaction to the downside, I anticipate that sooner or later you probably have buyers coming back in. But the question then becomes, does the 19,500 level hold as support?

If we break down below there, the market then could open up a move down to the 18,600 level. Ultimately, this is a market that could go higher, but I think we are just reaching a little too far to the top, anticipating something that may or may not be as electric and explosive as people are hoping out of the Fed in September. Caution is the better part of valor, and chasing the market is probably something you should avoid. Because of this, I suspect that the way forward will be more of a “buy on the dips” scenario that we are going to have to pay close attention to.

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