NASDAQ100, Dow Jones and S&P 500 Weekly Forecast – US Indices Struggled this Week

NASDAQ 100 Technical Analysis

The Nasdaq 100 initially did try to rally during the course of the week, but has since fallen, mainly due to concerns about the Federal Reserve not giving rate cuts anytime soon in 2025, which of course is what drives Wall Street. So, with that being said, it’s not a huge surprise to see that the NASDAQ 100 has broken below the 21,000 level, especially as the jobs number came out stronger than expected. Remember, good economic news is bad news for stocks in the upside down world that quantitative easing had set up.

So, with this being the case, it’s interesting to notice that the market is also seeing a lot of support in this area. So I would expect a little bit of a bounce and I do think that in the longer term, we still go higher. But the first knee-jerk reaction has been negative over the 2025 year. But I think that the trend remains.

Dow Jones 30 Technical Analysis

The Dow Jones 30, of course, is the same. It initially tried to rally, it gave up the gains and now it sits just above the 42,000 level, which is a significant round figure and a large round number. So, with this, I think there will be plenty of options traders in this neighborhood, perhaps trying to keep the market up and alive.

S&P 500 Technical Analysis

The S&P 500 initially tried to break above the 6,000 level, only to turn around and struggle again. The 5,800 level underneath is a significant support level. It looks like we are going to hold on to it. So, I think really what you’re seeing here at the S&P 500 is probably going to be sideways, trying to work off the froth kind of thing.

But I think that’s true with all markets right now, we’re going to see a lot of volatility for a while until we get some type of clarity with the rate situation, which quite frankly, the US economy is far too strong to think that a lot of rate cuts are coming.