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

S&P 500

The S&P 500 gapped higher at the open on Monday, and then shot towards the 2450 handle, which was my next target. I believe that we are going to continue to reach higher, perhaps head to the 2500 handle after that. I believe that the bullish tendency of this market is starting to show itself again, so therefore I have no interest in trying to fight this trend. I believe that the 2500 level will be broken to the upside given enough time, but in the meantime, it should be several pullbacks just waiting to happen, and more importantly, offer buying opportunities… Read More

Dow Jones 30

The Dow Jones 30 gapped higher at the open on Monday, and then shot towards the upside. The 21,500 level above has offered a significant amount of resistance, but I do think we break above there over the longer-term. With this being the case, I’m looking to buy pullbacks as the US indices all look likely to go higher over the longer-term, and of course we have seen a bullish move right at the beginning of the session on Monday… Read More

NASDAQ 100

The NASDAQ 100 exploded to the upside on Monday, and broke above the 5750 level. Having said that, it looks as if the NASDAQ 100 continues to rebound and recuperate from the massive selloff that we had seen recently. Because of this, I am a buyer on dips and I believe that we will break out to the upside, eventually reaching towards the 5900 level above, and then the 6000 level. I have no interest in shorting this market, as it has been so strong over the last several sessions, and of course seems to have found its bottom… Read More