NASDAQ 100 Price Forecast – NASDAQ 100 Continues to See Buyers

NASDAQ 100 Technical Analysis

The NASDAQ 100 rallied rather significantly during the Friday session as the core PCE price index came out as anticipated. Perhaps people were worried that it was going to come out hotter than anticipated, and therefore the Federal Reserve would be forced to be very tight with its monetary policy. I don’t necessarily expect much out of this other than a continuation of the overall uptrend. Short-term pullback should continue to attract attention. I don’t see any reason why people would start selling in this market again, and as I record this video, we’re trying to take out the 20,000 level, which of course is a psychologically important level.

But at this point, it really just comes down to a handful of stocks. The same handful of stocks that have been pushing the NASDAQ 100 higher for a while will continue to do so as everybody bets on AI. And then down the road, it’ll be something different, but there’s always some type of gimmick that Wall Street is selling.

So, with that, I remain bullish, but I also recognize that we have a situation where traders are just struggling to find any reason to be negative. So, there’s no point in fighting it, as the short sellers have been beaten mercilessly over the last few months. The market will continue to focus on a small amount of stocks, and as they grow in value, they will become a bigger part of the weighting of the index. This being the case, it is a feedback loop that a lot of people will gladly feed into.

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