Major US Indices Forecast, August 31, 2017, Technical Analysis

S&P 500

The S&P 500 has been volatile during the day on Wednesday but finally cleared the 2450 level with a vengeance. That being the case, looks as if we are continuing the “buy on the dips” mentality that we have seen for some time, and I think that the sellers are in serious trouble. Yes, I can give you plenty of reasons as to why the market should be falling, but quite frankly it doesn’t look like anybody cares. With this being the case, buying on the dips should continue to be the way forward, and I think the market is going to try to reach the 2475 level next… Read More

Dow Jones 30

The Dow Jones 30 had a very bullish session after initially filling out the 21,950 regions. We turned around to find bullish pressure later after the pullback, and US indices overall look very likely to continue going higher. Ultimately, I think that the market will continue to see massive amounts of bullish pressure over time we pull back because quite frankly the “buy on the dips” mentality continues to be what we see. I can give you plenty of reasons as to why the stock market might be sold off, but quite frankly nobody’s paying attention to the issues out there… Read More

NASDAQ 100

The NASDAQ 100 broke above the 5900 level, suggesting that it is, in fact, going to continue to lead the way for US stocks. If that’s the case, I think that the 5900 level now should be supported, and a pullback should be a nice buying opportunity. Ultimately, this market seems like it is trying to get to the 6000 level above, and I think given enough time we will certainly get there. I have no interest in shorting… Read More