NASDAQ 100 Technical Analysis
The Nasdaq 100 has fallen pretty significantly in the early hours of Thursday after Donald Trump announced massive tariffs on Wednesday after the market closed. That being said, we are starting to see a little bit of a bounce here. So, it’ll be interesting to see how this plays out. It is very possible we may have just seen the flush that the buyers are looking for.
Still early at this point in time, and I would not get aggressive, but I do recognize that sooner or later things need to kind of come back to reality. If we break down below the 18,600 level, that could bring a much deeper correction. But right now, it’ll be interesting to see if this market can stabilize. Finally, we have the jobs number coming out on Friday as well.
Dow Jones 30 Technical Analysis
The Dow Jones 30 looks pretty bad. It hasn’t really bounced at all, and therefore, I think you have to assume that it could continue to break lower. But you just don’t know. We haven’t broken the swing low at roughly 40,650. If we break down below there, then the 40,100 level could be the next target.
Short-term rallies at this point in time probably just end up being consolidation more than anything else. And the Dow Jones Industrial Average will be an interesting place to watch, mainly due to the fact that these are some of the companies that will be directly affected by tariffs from overseas nations.
S&P 500 Technical Analysis
The S&P 500 had plunged earlier in the day only to bounce, and at this point, it looks like the S&P 500 is trying to turn things around. We’ll have to wait and see whether or not it actually can, but I certainly think you have the potential to head back into the consolidation. And quite frankly, although not a good day, it’s not as bad as it really could have been.
NASDAQ 100 Price Forecast
Every new NASDAQ 100 analysis as it publishes, today's technical signal and key levels, live price — on one page.
See all NASDAQ 100 forecastsSo, we’ll have to wait and see. But if we can recapture the 5600 level, that might be a really good sign that this market is ready to finally turn things around. After all, it would fly in the face of most of the panic that we saw after the announcement.
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