Major US Indices, Forecast for The Week of September 4, 2017, Technical Analysis

S&P 500

The S&P 500 initially fell during the week but bounced from the uptrend line that has been so supportive. Because of this, I believe that the S&P 500 is hell-bent on getting to the 2500 level. With this, I believe in buying dips, and I believe that once we break above the 2500 level, we are clear to go much higher. This is a market that certainly seems to be favoring dips, as the markets have been so strong. If we were to break down below the uptrend line, and more importantly the 2400 level, the market could then break down significantly… Read More

Dow Jones 30

The Dow Jones 30 initially fell during the week but found enough support underneath to turn around and form a very bullish candle. Breaking above the 22,000 level is a very bullish sign, and I think that we will eventually continue to go much higher. I think that short-term buying opportunities are available every time we dip, and I believe that given enough time the lack of interest rates in the United States should continue to lift stock markets overall… Read More

NASDAQ 100

The NASDAQ 100 initially fell during the week but found enough support from the trend line that I have marked on the chart. We have broken towards the 6000 level, but that, of course, offered resistance. However, this very bullish candle suggests that we are going to continue to go to the upside, and now I believe that the 6100-level course is a visible target. The 5700 level underneath below is massively supportive, and if we can stay above there, I don’t see the reason to sell this market. Even if we do break down below there, the market will probably find support at the 5500 level… Read More