NASDAQ 100 Price Forecast – NASDAQ 100 Continues to See Pressures

NASDAQ 100 Technical Analysis

The NASDAQ 100 rallied a bit during the course of the early hours on Friday, as it looks like we are trying to break out to the upside and threaten the 19,500 level. If we can break above the pullback from the previous session, then we could go higher, perhaps trying to reach the $20,000 level. If we pull back from here, then I think there is plenty of support and it would make a lot of sense that buyers would be looking at getting involved on short-term pullbacks.

In general, this is a market that I think will continue to be noisy, but keep in mind, this is all about cheap money coming from the Federal Reserve. If they are going to cut rates, then it’s likely that the market is going to be noisy and hang on to the every word of the Federal Reserve members and the like.

We also have the core PCE numbers coming out that could have an influence as well. But really, when you look at the chart, it almost looks like a massive bullish flag, whether or not it kicks off remains to be seen. But I do think that if we break above the highs of the Thursday and Wednesday sessions, then it’s likely that we will go looking to the 20,000 level. After all, the NASDAQ 100 has a huge proclivity to be going higher. And with that being said, it is a market that is very positive overall.

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