NASDAQ 100 Price Forecast – NASDAQ 100 Continues to See Noise

NASDAQ 100 Technical Analysis

The NASDAQ 100 has pulled back just a bit to show signs of weakness, but quite frankly I think that there is a lot of support underneath. I’d be surprised to reach it, but the 19,500 level is an area that I’m paying close attention to as it should offer a bit of a floor in the market. That being said, keep in mind that it is Independence Day in the United States on Thursday, so it’s certainly going to have a major influence on what happens with your CFD brokerage firms.

With the underlying index close, I don’t think you’re going to read a whole lot into this, but right now the market is most certainly buying on the dip type of situation. And I think the 19,500 level would be an excellent entry point. This of course assumes that we’re even going to get down to that area. Some type of bounce from here does make sense. And as soon as we get a little bit of a push back to the upside, a lot of range bound traders will simply jump in.

Keep in mind that the NASDAQ-100 is really only an ETF for about 4 or 5 stocks now, so as long as all the major AI type plays are going okay, it’s hard to imagine a situation where the NASDAQ-100 falls for any length of time. Because of this, I remain a buy on the dips trader in this index, as well as most others around the world.

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