NASDAQ 100 Weekly Price Forecast – NASDAQ 100 Continues to See Buyers

NASDAQ 100 Technical Analysis

The NASDAQ 100 initially fell to the 19,500 level this week, but then turned around to show signs of strength. On Friday, we are most certainly seeing a lot of traders come into the market and take advantage of the idea that perhaps the PCE numbers coming out as expected will keep the Federal Reserve somewhat quiet. If that’s going to be the case, at least people still can come up with a narrative that maybe someday they’ll cut rates.

But as things stand right now, this is a market that is just moving on a handful of stocks. That’s the way it’s been for a while, maybe the last couple of years. So as long as AI is doing well, the NASDAQ 100 will climb right along with it. Whether or not this is sustainable is completely a different question, but quite frankly, it’s kind of surprising how long it has been.

However, you play the market you have, and the market you have is one that is going higher. So, if we can break above the previous weekly candlestick, that would lead us into fresh new territory and buyers seem to be willing to jump in and try to make that happen. A breakdown below the 19,500 level could lead to a little bit deeper correction. But right now, we would need to see something happen to the market to make its attitude change that much. Quite frankly, a crash could be coming, but there are no signs of it on the charts at this point in time.

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