NASDAQ Weekly Price Forecast – NASDAQ 100 Continues to See Buyers

NASDAQ 100 Technical Analysis

The Nasdaq 100 initially pulled back during the week but continues to find support right around the 19,500 level. With that being the case, it looks very much up, looking like a market that will continue to go higher over the longer term as technology has been a big mover of markets in general.

And I do think that short term buyers continue to find reasons to get involved. Every time we drop the 19,500 level, being broken to the downside would of course be somewhat negative. But really, I don’t think it’s that big of a deal. Even if we do break down below there, because let’s be honest here. This is a massive uptrend.

It’s worth noting that the week was a little bit different than previous ones, due to the fact that it had Independence Day celebrations on Thursday. And then of course, Friday had the jobs numbers. Some. There is a certain number of liquidity questions to be asked here, but ultimately it went right along with the overall trend.

So, it makes sense that we would continue to see upward momentum in general. So, this is a one way market. You have to keep in mind that the Nasdaq 100 is driven by a handful of technology stocks, mainly driven by AI. So as long as all of the usual suspects continue to rally, it does make sense that this market will do the same.

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