Major US Indices Forecast, August 28, 2017, Technical Analysis

S&P 500

The S&P 500 went sideways initially during the day on Friday but then reached towards the 2450 handle. We pulled back, and towards the end of the day, it looks as if we are trying to get back to that level again. Because of this, I believe that the market is still very bullish and the pullback should continue to offer buying opportunities. Eventually, I expect to see this market reach towards the 2500 level above, and that being the case I have no interest in shorting this market… Read More

Dow Jones 30

The Dow Jones 30 went sideways during the day on Friday but then shot higher. We have pulled back since then but it looks like the buyers are coming back to get involved. The 21,900 level above is resistance, and if we can break above there think the market should then go to the 22,000 level after that. I think that the 21,750 level continues to be supportive, so I am a buyer of this market. Earnings season was relatively strong, and I believe that the Federal Reserve will continue to be somewhat accommodative… Read More

NASDAQ 100

The NASDAQ 100 continues to chop around as the market should continue to try to build up enough momentum to continue going higher. I believe we will go looking towards the 5900 level above, which is an area that has been supportive in the past. I also think that we will eventually go to the 6000 handle above their, but it’s good to take a significant amount of time to get there. I like buying pullbacks, the NASDAQ 100 is supported by some of the most popular stocks in the stock market currently… Read More