NASDAQ 100, Dow Jones 30 and S&P 500 Forecast – US Indices Continue to See Pressure

NASDAQ 100 Technical Analysis

The Nasdaq 100 gapped lower to kick off the trading week but has since recovered fairly stoutly as the 16,250 level seems to be trying to offer a bit of support. That being said, sooner or later, you are going to see buyers jumping into the market, regardless of the fact that the tariff situation is still pretty hostile overall. You can see that we are right around the 25 % drop, perhaps traders out there have run out of stocks to sell or it’s very possible that they are just exhausted and may not be doing anything. At this point, we’ll have to watch for stability, but buying here, very dangerous to do.

Dow Jones 30 Technical Analysis

The Dow Jones 30 plunged below the 37,000 level, but it has turned around to show signs of life as we stabilize over here as well. This could be a very interesting market to see because quite frankly, the market is oversold here as well. So, I do think you have a situation where you have to pay close attention to what’s going on and perhaps start to pay attention to the possibility that we might have a little bit of a relief rally here.

S&P 500 Technical Analysis

The S&P 500 of course fell to the 4800 level, but it has since shown a little bit of life, and it could perhaps open up the possibility of an attempt to return above the $5,000 level. The 5,000 level, of course, is a large round, psychologically significant figure that a lot of people would be paying close attention to. So, with that being said, I’d be somewhat cautious at this point, but we may get a tradable bounce here. I would let the rest of the market sort that out first though. I don’t want to be the first one through the door.

For a look at all of today’s economic events, check out our economic calendar.