NASDAQ 100 Price Forecast – NASDAQ 100 Continues to See Upward Pressures

NASDAQ 100 Technical Analysis

The NASDAQ 100 has shown itself to be very quiet during the early hours on Wednesday, which is to be expected, after all Thursday is Independence Day in the United States, so it’s difficult to get a lot of people throwing a ton of money at this market. And then of course, Thursday, most of the day will be closed. There will be some electronic trading around the periphery. And then after that, we have the jobs number on Friday, which of course will have a major influence on what happens next in the stock market overall.

As things stand right now, it looks like the 20,000 level is an area of interest, perhaps an area of resistance, and a short-term pullback at this point in time could offer plenty of buying opportunities, especially near the 19,500 level, but we’ll have to see if we actually pull back to that area. In general, this is a market that I think continues to consolidate and eventually takes off to the upside, so I am a buyer of dips.

Longer term, I don’t really have a target anymore because quite frankly, all of the targets for this year in stock indices in the United States have been blown through. So, we’re only just starting the seventh month of the year and we’ve already hit the target for the end of the year. Whether or not that keeps up remains to be seen, but it certainly looks like the stock markets are not something you can short in the United States and that most certainly includes the Nasdaq 100.

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