Nasdaq 100, Dow Jones 30 and S&P 500 Forecasts – US Indices Choppy in Premarket

NASDAQ 100 Technical Analysis

The Nasdaq 100 has fallen a bit during the pre-market hours on Thursday, as it looks like we are going to start trying to get back to the 30,000 level. That’s not a huge surprise considering that Friday is non-farm payroll and traders probably don’t want to put a lot of risk on the table.

But 30,000 is an area where I would anticipate buyers coming back into. I think it probably creates a bit of a bounce in and of itself, but we’ll just have to wait and see. Obviously, the jobs report will have its own influence.

Dow Jones 30 Technical Analysis

The Dow Jones 30 has rallied a little bit during the trading session, but we are struggling near 51,000. This is a bit of a rotation from tech to industrials, blue-chip stocks. We’ve seen this a couple of times here recently, where one will go in one direction, and the other will go in the opposite.

I think we just stay here in the same consolidation that we’ve been in between roughly 50,600 and 51,300. This is just more of that same choppy behavior.

S&P 500 Technical Analysis

The S&P 500 is down a bit in pre-market trading. The 7,500-level underneath, I suspect, ends up being supported. It’s an area that has previously been supporting as well as resistance, and it might be a nice area to hang out in while we wait for those job numbers tomorrow.

All things being equal though, this is still a very bullish market. I don’t have an interest in shorting. I think a bounce offers a nice opportunity on the “right hand side of the V.”

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