NASDAQ, Dow Jones and S&P 500 Forecast – US Indices Continue to Look Bullish

NASDAQ 100 Technical Analysis

The NASDAQ 100 has rallied quite nicely in the early hours as it looks like New York will have another good day. Short-term pullbacks, I think, are buying opportunities, and therefore, I think you’re looking for value. With President Trump on board, with pumping up the stock market again, that’s what he did for the first four years, I think we’re going to have a runaway market for a while. Now, that doesn’t mean that you jump in with a huge position, it’s just that it’s going to be really hard for Wall Street to sell things for very long.

Dow Jones 30 Technical Analysis

The Dow Jones 30 continues to rip higher and has been one of the better performing indices over the last couple of days. I think at this point we are getting a little overdone, so a pullback could come, but that pullback is going to end up being a buying opportunity.

I just don’t see how you would be a seller of the Dow Jones or any other stock market in America at the moment. The previous uptrend line is starting to come into the picture as potential resistance, but I also think that the $43,500 level underneath should be support, especially with the 50 day EMA racing toward it.

S&P 500 Technical Analysis

The S&P 500 is on the verge of making a fresh new high and I think it probably will during the trading session as we threaten the 6100 level. Anything above there opens up a much bigger move but in the short term I think, short term pullbacks will end up being buying opportunities with the 6000 level of course, attracting quite a bit of attention.

The S&P 500 had been in a long-term gentle uptrend until basically Christmas, and since then we’ve just kind of gone sideways, which is fine. We had to work off some of our excess froth, but now it looks like we are ready to continue going higher as the market is most decidedly bullish.

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