Major US Indices, Forecast for The Week of April 24, 2017, Technical Analysis

S&P 500

The S&P 500 had a positive week, but we continue to drift lower over the last several weeks. However, we are in the middle of earnings season, so it makes sense that the markets would be a bit tenuous. When I look at the chart, it’s easy to see that an argument can be made for a bullish flag, and that of course could break out to the upside, offering the next leg higher… Read More S&P 500 Weekly Forecast

Dow Jones 30

The Dow Jones 30 rally during the course of the week, near the 20,400 level. That being the case, I believe that the market will break out to the upside and it looks as if we have a bit of a bullish flag going on. I think that the 21,000 level will be targeted. However, we are in the middle of earnings season so you can expect quite a bit of choppiness…. Read More Dow Jones 30 Weekly Forecast

NASDAQ 100

The NASDAQ 100 is very bullish looking as we had a very long green candle during the week. I believe that the market will eventually reach towards the 5500 level, and eventually break above there. I believe that a pullback should be a nice buying opportunity, as the 5300-level underneath should continue to be the “floor.”… Read More Nasdaq 100 Weekly Forecast