Major US Indices Forecast, February 20, 2017, Technical Analysis

S&P 500

The S&P 500 fell a bit during the day on Friday, but continues to find support near the 2340 handle. I think that every time we pull back value investors will get involved, and that the absolute “floor” in the market is the 2300 handle. Given enough time, I think we continue to go towards the 2500 level… Read More S&P 500 Forecast

NASDAQ 100

The NASDAQ 100 fell a bit during the day on Friday, but found support underneath to turn things around to form a hammer. It looks as if the 5300 level will continue to support this market, and thus I believe that a break above the top of the hammer is a buying opportunity… Read More Nasdaq 100 Forecast

Dow Jones 30

The Dow Jones 30 fell a bit during the day, but I still think has plenty of support near the 20,500 level to keep the market afloat. Even if we did break down below there, the market has an absolute “floor” at the 20,000 handle. We are in an uptrend, and I have no interest in fighting that… Read More Dow Jones 30 Forecast