NASDAQ 100 Price Forecast – NASDAQ 100 Continues to See Buyers

NASDAQ 100 Technical Analysis

The NASDAQ 100 rallied a little bit during the early hours on Monday as it looks like we are going to continue the overall uptrend that we have been in. That does make quite a bit of sense considering that Monday just doesn’t really have a lot of economic announcements coming out and therefore I think it has a scenario where traders are probably just going to follow the overall momentum. Short-term pullbacks will more likely than not end up being buying opportunities, especially if we were to get anywhere near the 20,000 level, something that doesn’t look very likely.

This is a market that I think will go looking to the 20,500 level, which is the next psychologically important figure. Either way, I have no interest whatsoever in shorting this market because quite frankly, the NASDAQ 100 is moving on the whole idea of AI momentum, the Federal Reserve possibly cutting rates, and a whole litany of other issues. With that being the case, I think this is a situation where we will continue to find plenty of value hunters every time we pull back.

The 19,500 level at this point in time seems to be the floor in the market, even though we are nowhere near there. That’s 900 points below where we are starting. So, with that, I like the idea of taking advantage of any pullbacks that offer value. This has been the pattern for some time, and I see nothing on this chart that suggests that anything is going to change in this index overall. Value remains the same theme overall in the NASDAQ 100, as well as the other US indices.

For a look at all of today’s economic events, check out our economic calendar.