NASDAQ 100 Price Forecast – NASDAQ 100 Plunges in The Early Wednesday Hours

NASDAQ 100 Technical Analysis

The NASDAQ 100 fell a bit during the early hours on Wednesday as it looks like a bit of risk-off behavior has taken hold of the markets in Asia and more specifically in Europe. With that being said, we are still very much in an uptrend, and I would not be surprised at all to see the Americans come in later in the day and pick the whole thing back up. If that’s going to be the case, then the market is likely to go looking towards the 21,000 level over the longer term, but it may take some time to get there.

After all, this is a pretty steep decline in a very short amount of time. I wouldn’t call this a meltdown though, and I think it just ends up being a buying opportunity before it is all said and done. Remember, Wall Street is always pumping out a narrative of buying. So I think it’s probably only a matter of time before the Americans come in and start doing exactly that. Plus, you have to keep in mind that earnings season is currently starting in America and that could be the next big boon for stocks.

If we do fall from here, the 20,000 level would obviously be an area that would attract a lot of attention, followed by the 19,500 level which has already proven itself to be quite effective as support. Ultimately, we are in an uptrend so you’re looking at these types of moves as potential buying opportunities.

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