NASDAQ 100 Price Forecast – NASDAQ 100 Continues to See Support in Electronic Trading

NASDAQ 100 Technical Analysis

The NASDAQ 100 has done very little during the Thursday session, which would be expected. It was Independence Day in the United States, but you also have to keep in mind that there is overnight trading and therefore some movement happened. However, I think at this point, it makes sense not only due to the holiday that we didn’t do much, but also keep in mind, Friday is non-farm payroll Friday.

And that has a major influence on where we go next. I do think that the market has a proclivity to go higher. I think that’s pretty obvious. So, what I’m hoping for is some type of sharp pullback either during the announcement or right after it that I can buy into. I believe that the 20,000 level will continue to be support. And then after that, I think you have to look at the 19,500 level as support also. In general, this is a market that will continue to be noisy, but positive. And quite frankly, I think this is a situation where market participants are just looking for value.

Keep in mind that the NASDAQ 100 really should be called like maybe the NASDAQ 3, because it’s only a couple of stocks that move everything now. So, it’s an ETF of AI. With that being said, as long as the mania continues, this market goes higher. There’s really no way to get short of the NASDAQ 100 as it would be the same as swimming upstream or perhaps jumping in front of a runaway train.

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