NASDAQ Weekly Price Forecast – NASDAQ 100 Conintues to See Upward Pressure

NASDAQ 100 Technical Analysis

The NASDAQ 100 has rallied to reach the 19,500 level, an area that has been important a couple of times. Breaking towards this area does suggest that there is still plenty of support underneath and I think short-term pullbacks are more likely than not going to be bought into after the reaction from this week and of course the week before which formed a massive hammer at the 50-week EMA. If we can break above the top of the candlestick then the market could go looking to the $20,500 level. This would of course be a major milestone that a lot of people will be paying close attention to.

The NASDAAQ 100 is of course a situation where people have to feel comfortable going out on the risk spectrum. And that of course is something that is a very fluid situation. That being said, even with the vicious sell off that we had recently, you can see that it’s been a blip on the radar, going all the way back to the beginning of 2022. You know, the question now is, will the market continue to go higher? Probably, but we don’t know that it’s going to do so right away.

I would look at short-term pullbacks as potential buying opportunities as long as we can stay above the crucial $18,000 level because it gives you a wide berth to deal with what is almost certainly going to be extreme volatility, so position sizing is a crucial thing to keep in mind.

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