NASDAQ 100 Price Forecast – NASDAQ 100 Continues to Look for Momentum to the Upside

NASDAQ 100 Technical Analysis

The NASDAQ 100 rallied slightly during the early hours on Monday. And the fact that there is not much in the way of macroeconomic announcements coming out, it does make a certain amount of sense that we would see this market to go higher just simply because there’s probably not going to be a lot of massive amounts of negative headlines. Now, whether or not something else comes across the wire, we have to wait and see. And certainly, there’s a little bit of a shakeup in Europe, but really at the end of the day, I don’t think it really matters.

When you look at this market, it is consolidating after a massive shot higher. And I think short-term pullbacks will end up being buyers on dips. The 19,500 level underneath is a significant support level that I think a lot of people would be interested in trying to pick up a certain amount of value. Above, we have the $20,000 level that will attract a certain amount of attention, and we should pay attention to that as well.

If we can break 20,000, then the market goes much higher. It continues the overall uptrend. I do think that will happen eventually. I just don’t know how long it’s going to take to get there, but I clearly have no interest in shorting the NASDAQ 100, there’s just nothing on the chart that tells you to even remotely consider that.

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