NASDAQ 100 Price Forecast – NASDAQ 100 Continues to Look Positive But Pullback Likely

NASDAQ 100 Technical Analysis

The NASDAQ 100 was slightly negative during the trading session on Tuesday and at this point in time it makes quite a bit of sense that we could see a little bit of a pullback towards the crucial $17,850 level.

At that point, the 50-day EMA comes into the picture, as well as a bit of market memory due to the previous support area. So, with that, I think this pullback is probably due. We did rally quite a bit over the last three trading sessions to gain just a touch under 5%. So, a little bit of a pullback in the short term makes a lot of sense. That should, at least in theory, end up being a buying opportunity. With that being the case, I think you’ve got a scenario where value hunters will jump back into the market and take advantage of cheap stocks. Keep in mind that the NASDAQ 100 of course really isn’t 100 stocks anymore. It is more along the lines of like seven if that. So as long as the same players continue to do well, that should help the Nasdaq 100.

Furthermore, pay close attention to the interest rates in the United States because they can have a major influence as well, as lower interest rates tend to lead to higher stock pricing. All things being equal, this is a market that I do think you will get an opportunity to buy on the dip, and that does make a certain amount of sense, considering we have been so impulsive for the last couple of days. I have no interest in shorting the market, it’s just simply far too strong and it’s not going to surprise me at all if we reach the 18,500 level before it’s all said and done, which of course would be the recent swing high and for that matter an all-time high. So, Wall Street’s hell-bent on pushing the market higher. It will go higher in that scenario.

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