Major US Indices Forecast, June 22, 2017, Technical Analysis

S&P 500

The S&P 500 had an extraordinarily volatile session during the day on Wednesday, as the market continues to show trouble. This being the case, the market looks like it is finding support at the previous gap near the 2430 handle, but obviously there are a lot of headlines moving things around rapidly. If we can break above the 2440 handle, I feel the market then should go to the 2450 handle at that point. I break above that level should send this market even higher, as the 2500 level would be targeted then… Read More

Dow Jones 30

The Dow Jones 30 went sideways initially during the day on Wednesday, but then broke down significantly, reaching towards the gap that had formed several sessions ago. The 21,400-level offered enough bullish pressure to turn things around and perhaps send this market higher and keep the longer-term uptrend going higher. I believe that the market continues to be one that you can buy on dips, and the gap at the 21,400 region should be massively supportive. If we can bounce from here, I think the market should then go to the 21,500 level again… Read More

NASDAQ 100

The NASDAQ 100 had an explosive move to the upside, as money starts flowing into biotech stocks. If we can break above the 5775 level, the market should then go to the 5875-level next, and then eventually the 5900 level. If we can break above their, the market should continue to go towards the 6000 level which is my longer-term target. I believe that 5700 level underneath will continue to be the floor, so I think it’s only matter of time before the buyers get involved on short-term pullbacks… Read More