Major US Indices Forecast, September 13, 2017, Technical Analysis

S&P 500

The S&P 500 had a slightly positive session on Tuesday, but quite frankly we’re getting far too close to the 2500 level for me to become from buying here. I think pullbacks will be needed for value, as the 2500 level will almost certainly offer a bit of resistance due to the psychological nature of the number. I think that once we break above there, the markets can continue to go higher though. With this, I’m a buyer of dips, certainly don’t want to sell this market, and I think we will break out eventually, but it may take a couple of attempts… Read More

Dow Jones 30

The Dow Jones 30 went slightly positive during the session on Tuesday, as we continue to grind higher. We broke above the 22,100 level, as it looks like industrials will continue to lead the US stock markets overall. I think that pullbacks will find support below, especially near the psychological figure of 22,000. I like buying dips, and I believe that this market will continue to attract money… Read More

NASDAQ 100

Interestingly enough, the NASDAQ 100 struggled at the 6000 level and pull back. We are starting to see a bit of buying pressure again, and I think we may have to attempt breaking above the 6000 level several times. Once we do break above there, the market should continue to go much higher. As far as selling is concerned, I don’t have much interest in doing so right now as we are most certainly in a bullish market longer term… Reads More