NASDAQ, Dow Jones and S&P 500 Forecast – US Indices Looking to Continue Overall Uptrend

NASDAQ 100 Technical Analysis

The NASDAQ 100 is rather quiet ahead of the opening on Tuesday as we continue to test the previous falling wedge for support. We also need to be paying close attention to the 21,000 level because quite frankly, I think the 21,000 level is an area that has been important multiple times.

So, with this being the case, I think we have a scenario where it’s only a matter of time before we bounce and start to go back towards the top of the range, but even if we did break down, I do believe that the 20,500 level also offers support. I think we probably are going to get a day or two of reflection on the sell-off and then of course, we’ll have to react to the Wednesday Federal Reserve meeting.

Dow Jones 30 Technical Analysis

Dow Jones 30 is fairly quiet in the early hours as well. It continues to test the previous uptrend line. And interestingly enough, during the previous session on Monday, we had fallen hard only to turn around and show signs of life again. I believe at this point in time, this suggests that perhaps the Dow 30 is going to take the lead again when it comes to indices in the United States, but it is a little bit early to make that call. Short-term pullbacks I believe I will see the 43,500 level as massive support, not only due to market memory, but also due to that 50 day EMA sitting at that level.

S&P 500 Technical Analysis

The S&P 500 is sitting just above the 6,000 level, and that’s a victory considering how ugly things could have been after the initial plunge on Monday. So on the Tuesday session, I suspect that we have a lot of sideways action. People will be focusing more on the Federal Reserve going forward.

And despite the fact that there was chaos thrown into the market via DeepSeek, the reality is there are still a lot of questions about that, and it was most certainly overdone. We saw that by the end of the day. So, with that being said, I do believe that there are buyers on dips still, and this is still very much an uptrend.

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