NASDAQ 100 Price Forecast – NASDAQ 100 Continues to See Noisy Behavior

NASDAQ 100 Technical Analysis

The NASDAQ100 rallied a little bit in the early hours on Friday, as the 19,500 level is an area that has offered quite a bit of a floor. Furthermore, it is an area that’s been important multiple times, so it does make a lot of sense that we would see this area continue to offer market memory. All things being equal, this is a market that will be paying close attention to Jerome Powell at the end of the day in his speech at the Jackson Hole Symposium. That being said, we have the weekend ahead of us, and it’ll be interesting to see what the market thinks about this as we go through the weekend, because a lot of times traders will have the entire weekend to parse things and rethink things.

So, Monday could be rather interesting. In the short term, it looks like we could try to go to the 19,980 level where we fell from previously. But if we were to turn around and break down below the 19,400 level, I think you’ve got a situation where we could drop down to the 19,000 level. Either way, we are going to be volatile and regardless, from a technical analysis standpoint, we had bounced pretty significantly, and it looks like we could go sideways for a while to work off some of that excess. In general, this is a market that I think continues to stand there with it hands out, looking for cheap money from the Federal Reserve.

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