NASDAQ 100 Price Forecast – NASDAQ 100 Continues to See Questions Asked of It

NASDAQ 100 Technical Analysis

The NASDAQ 100 has been a little bit back and forth during the early hours on Monday as traders will have to try to sort out whether or not we continue to go higher, or if the fear of the economy slowing down will weigh upon the market. It’s worth noting that Monday has absolutely nothing as far as economic announcements coming out.

So, unless something unexpected crosses the wire, the market will be left to its own devices. The 18,500 level is an area that I think a lot of people will pay close attention to again, and it is a bit of a pivot between buyers and sellers. It’s an area that previously had been massive resistance, but it also has offered support from time to time.

In general, the NASDAQ 100 is still very much in an uptrend, but this recent pullback over the last three weeks has been something to pay close attention to. If we can break above the 19,000 level, then I think the NASDAQ 100 could take out towards the 19,500 level, an area that’s been important. On the other hand, if we break down below the 18,350 level, then the market could drop to the 17,800 level.

In general, I do think that we see a lot of noisy and choppy behavior and those couple of levels could be your next clue as to where we go for a bigger move going forward, perhaps the idea of where we could be going for the longer-term as the economy is in flux.

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