NASDAQ 100 Weekly Price Forecast – NASDAQ 100 Turns Things Around Completely

NASDAQ 100 Technical Analysis

The NASDAQ 100 has been extraordinarily bullish all week, as we have now slammed right back into the $19,500 level. This is just below where we had completely capitulated from during the previous week everything is awesome again. I think we’re going to be in one of those markets where we’re going to have these violent moves back and forth. And quite frankly, that’s not a huge surprise because there’s the economy and then there is the Federal Reserve and whatever they are doing with monetary policy, which does suggest loosening. And that does suggest that perhaps the NASDAQ 100 will be a beneficiary of that.

If we can break above the 19,500 level, I suspect that we could go looking to the 20,000 level, which of course has a certain amount of psychology attached to it. On a breakdown, the 18,500 level should continue to be supported, but if that gives way, we could see a drop down to the 17,000 level. I think the only thing you can count on is a lot of volatility, but the NASDAQ 100 is one of these indices that is almost always on the dip.

It’s not even equally weighted, so if you get three or four stocks, the right ones of course, to go in the same direction, that’s what the index does. It’s not really 100 stocks you’re trading, it’s about five. So, with all of that being said, it looks like we are ready to celebrate the idea that the Federal Reserve is going to bail out Wall Street again.

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