Major US Indices Forecast, January 24, 2017, Technical Analysis

NASDAQ 100

The NASDAQ 100 initially tried to rally during the session on Monday but turned around to form a slightly negative candle. I still see a massive amount of support just below at the 5000 region, so I believe it’s only matter of time before the buyers come back and get aggressive again… Read More Nasdaq 100 Forecast

S&P 500

The S&P 500 fell on Monday as traders come back to work. However, we are still very much within the consolidation area so I’m not concerned about it yet. Given enough time, I think we will get a supportive candle that we can start buying as the market continues to try to build up enough momentum to continue the longer-term uptrend, and of course break out and above the 2275 handle which has been so resistive… Read More S&P 500 Forecast

Dow Jones 30

The Dow Jones 30 fell significantly on Monday, but remains within the previous trading range that we have been in. If we can break above the top of the range for the session on Monday, I feel that the market within reach towards the 20,000 handle yet again… Read More Dow Jones 30 Forecast