NASDAQ 100 Price Forecast – NASDAQ 100 Continues to See Buyers

NASDAQ 100 Technical Analysis

The NASDAQ 100 has been very noisy, to say the least, as the market has been grinding higher and chopping back and forth on short-term charts. Because of this, I think you’ve got a situation where we are trying to rise over the longer term, but I also look at this as a market that could be running out of momentum.

The sell-off that we had seen over the last several weeks was rather brutal, and while I don’t know that it means we’re going to melt down, these types of moves typically just don’t disappear right away, there’s normally some type of attempt at a continuation at the very least. That being said, if we can break above the 19,000 level, then I think we’ve got a very serious shot at going to the 19,500 level after that. Breaking that would in fact confirm that we are going much higher.

On the downside, if we break down below the 18,000 level again, then I think you’ve got a situation where the market really starts to fall perhaps down to the 17,250 level and then after that down to the 17,000 level. I do think the one thing you can probably count on in this market right now is going to be a lot of volatility. That’s not a huge surprise. There’s a lot of uncertainty out there and of course the NASDAQ 100 is highly sensitive to risk appetite as it tends to represent the new technology in America. With this being said, we’ve got a couple of levels to pay attention to that could give us a bit of a heads up as to which direction we can go.

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