Major US Indices, Forecast for The Week of January 23, 2017, Technical Analysis

S&P 500

The S&P 500 initially fell during the week, but turned around to form a hammer. A hammer of course is a bullish sign and thus I think that we will eventually continue to go higher. If we can break above the top of a hammer, I think that the market will reach towards the 2300 level, and further than that… Read More S&P 500 Forecast

NASDAQ 100

The NASDAQ 100 went back and forth during the week, but most importantly showed support at the 5000 handle. The 5000 handle begins a significant amount of support all the way down to at least the 4900 level, so I have no interest in selling… Read More Nasdaq 100 Forecast

Dow Jones 30

The Dow Jones 30 initially fell during the week, but found enough support to turn around and formed a hammer. The hammer suggests that we are going to continue to see buyers every time we did, and I think that given enough time we will breakout above the 20,000 level… Read More Dow Jones 30 Forecast