NASDAQ 100 Price Forecast – NASDAQ 100 Continues to Look to The Upside

NASDAQ 100 Technical Analysis

The Nasdaq 100 currently sits right around the 50 day EMA, which of course is an indicator that a lot of people pay close attention to. With that being the case, it’s very likely that market participants will continue to see a lot of buying on the dip, as it were.

The 50 day EMA could offer a little bit of resistance, but ultimately, I think more importantly, it’s the reaction that we have seen since the 17,000 level has been tested that suggests there are plenty of buyers underneath. Keep in mind, this is a market that has been very noisy during earnings season as well. So, keep all of that in mind.

Short term pullbacks should be buying opportunities. And if we do continue to go higher, I think the 18,000 level is likely to be the first target. Followed by the 18,500 level above. In general, this is a market that I think remains positive, mainly because it’s what Wall Street does. Is it sell stocks to other people? That being said, if we were to turn around and break down below the 17,000 level, then we could open up the possibility of a move down to the 200 day EMA.

But right now, I think there is enough recovery and interest here that we will continue to see more or less a buy on the dip attitude. This is a market that will see a lot of volatility, but at the end of the day, we are in a major uptrend, despite whatever the recent momentum suggests.

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