NASDAQ, Dow Jones and S&P 500 Forecast – US Indices Looks Somewhat Bullish in Early Trading

NASDAQ 100 Technical Analysis

The Nasdaq 100 looks as if it is essentially going to grind a little bit to the side here in pre-market trading. We are a little bit positive, but just barely. I think ultimately this is a market that is trying to digest all of the headlines of the last week or so, not the least of which of course would be DeepSeek and whether or not that’s a real thing.

Furthermore, you also have to ask questions as to whether or not the Federal Reserve statement and press conference really moved the ball and I don’t know if it did. So now we’re in a “now what?” type of phase. I think short-term dips continue to be buying opportunities though.

Dow Jones 30 Technical Analysis

Dow Jones 30 of course is a little bit hesitant to break out to a fresh new high, but it is a little overextended. So that pullback I think actually would be somewhat welcome. The 43,500 level below is supported by the 50-day EMA as well. So that comes into the picture.

I think you have a scenario where short-term traders probably will step back, let this thing fall a bit, and then try to pick up value. Alternatively, if we break above the $45,150 level, we could see this market try to go much higher, but I really would prefer that pullback as I don’t like chasing.

S&P 500 Technical Analysis

And over in the S&P 500, it was slightly positive in the early pre-market hours. We’ll have to wait and see how that plays out, but it looks a lot like the NASDAQ 100 in so much as it’s not negative, it’s just not overly positive. I think we’re setting up for fairly choppy sideways, but with an upward tilt type of action. I have no interest in shorting any of these indices and I think they all offer value on pullbacks.

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