NASDAQ 100 Price Forecast – The NASDAQ 100 Continues to Rise

NASDAQ 100 Technical Analysis

The NASDAQ 100 looks as if it is a little bit bullish at this point in time, early during the Thursday session and now the question is whether or not we can keep up the momentum that we have seen. And really, there’s not a lot here to keep that from happening. That would almost certainly invite the idea that the NASDAQ 100 is going to go looking toward the 20,000 level, which of course is the next large round, psychologically significant figure.

The NASDAQ 100 of course is highly sensitive to the idea of interest rates rising and falling. And as a result, I think a lot of people are putting their bets behind the idea that the Federal Reserve is going to start cutting. It’s a pretty obvious thing for September, but the question then becomes whether or not they are going to do so aggressively. Short-term pullbacks at this point in time, I think, find plenty of buyers, especially near the $19,500 level, an area that has been important multiple times. If we can close above the $20,000 level, then we could go to a higher levels, perhaps the 20,600 level. Keep in mind, this is all about risk on, risk off.

This is a market that relies on cheap money to fund technology. At this point, it looks like we may get a bit cheaper money, but it will all be about whether or not the US economy is going to strengthen or start falling. Remember, the NASDAQ 100 is further out on the risk spectrum than many other indices, and therefore tends to make more waves.

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