Major US Indices Forecast, September 18, 2017, Technical Analysis

S&P 500

The S&P 500 rallied a bit during the day on Friday, as we continue to consolidate back and forth just below the 2500 level. If we can break above the 2500 level, the S&P 500 should continue to go much higher. In the meantime, pullbacks look like they are short-term buying opportunities as we continue to bounce around in a steady range. I have no interest in shorting the S&P 500, even though we are bit extended, it appears that traders are willing to buy the dips every time they appear. Comfort will be found above 2500… Read More

Dow Jones 30

The Dow Jones 30 had a slightly positive session as we continue to find yourselves in record territory. Short-term pullback should be buying opportunities, and given enough time I think we do find buyers on these dips as they offer such value. Ultimately, the market should continue to go even higher, perhaps reaching towards the 23,000 level. I believe that there is a “floor” in the market closer to the 22,000 handle… Read More

NASDAQ 100

The NASDAQ 100 exploded to the upside, slamming into the 6000 level and pulling back after that. Ultimately though, looks as if we are going to break above this level, and continue to go much higher. I look at these dips as value, as the NASDAQ 100 has been so strong over the longer term… Read More