Major US Indices Forecast, July 11, 2017, Technical Analysis

S&P 500

The S&P 500 initially tried to rally during the day on Monday, and then fell significantly to reach towards the 2420 handle. We bounced from there though, as we continue to see a lot of volatility. This is the beginning of earnings season, so expect a lot of noise, and that of course will continue to be a situation that could cause volatility. I think that longer-term we do have an underlying bias to go to the upside, so dips could be buying opportunities. With financials reporting early this week, that should give us an opportunity to continue towards the 2450 level. If we break above there, then the market goes much higher… Read More

Dow Jones 30

The Dow Jones 30 initially tried to rally during the day on Monday, but turned around at the 21,450 level to fall significantly. However, buyers reentered the market as the Americans continue to look bullish in general. As you can see on Friday, the bullish pressure came during the US trading session, and it looks as if they are most certainly likely to continue to aim for higher levels. I believe that there is buying opportunities underneath as it seems to be so resilient. If we can break above the 21,500 level, the market should continue to go even higher, continuing to follow the uptrend that we have been in for some time… Read More

NASDAQ 100

The NASDAQ 100 went sideways in general, as Monday was quiet. However, later in the day we saw a lot of bullish pressure, and it looks likely that were going to reach towards the 5700 level. If we can break above there, the market should go much higher, probably reaching towards the 5750 level, and then eventually 5800. The NASDAQ 100 looks as if it is trying to form some type of larger rounding patter on the bottom of a move lower, and I believe that the NASDAQ 100 looks likely to try to break out. If we do, I don’t see the reason we don’t continue to go much higher… Read More