Major US Indices Forecast, September 14, 2017, Technical Analysis

S&P 500

The S&P 500 initially dipped during the day on Wednesday but found enough support near the 2490 level to really just slightly from that point. However, I think longer-term we have to worry about the 2500 level above, as the large, round, psychologically significant number should offer resistance. If we can break above there, and on a daily close, at that point, I would be much quicker to start buying again. In the meantime, I think short-term pullbacks should be short-term buying opportunities, but not much more than that as we approach this crucial level… Read More

Dow Jones 30

The Dow Jones 30 did almost nothing during the day on Wednesday, as we continue to hang about the 22,100 level. Ultimately, I think pullbacks will find plenty of support down to the 22,000 level, so it’s a “buy on the dips” market. However, today was very quiet, and more or less was unimportant… Read More

NASDAQ 100

The NASDAQ 100 initially fell during the session but started to see a bit of support at the 5980 handle. Most of this was probably due to Apple disappointing a bit, but at the end of the day, I think this market will eventually break above the 6000 handle. Once we do, then the market should go much higher. In the meantime, it still a “buy on the dips” scenario as well… Read More