Nasdaq 100, Dow Jones 30 and S&P 500 Forecasts – US Indices Continue to Look for Gains

NASDAQ 100 Technical Analysis

The Nasdaq 100 rallied slightly during the early part of the trading session on Tuesday as interest rates in America are starting to drift lower. I think we are going to try to get to the 30,000-level given enough time and I don’t really see any reason why we don’t. That being said, there was a lot of selling on Friday of last week, that of course, has some people freaked out, but in general, this is a market that I think not only recovers but eventually will try to test the highs again. Interest rates are worth watching, though. Make sure they continue to drift lower if you are a buyer.

Dow Jones 30 Technical Analysis

The Dow Jones 30 is bouncing a bit. We are right around the 51,000 level. I suspect we go to look at the 51,600 level again, which was the top of this consolidation. Eventually, I would anticipate that we would go looking for the 52,000 level, possibly even higher than that. We’ll just have to wait and see how this plays out. Short-term pullbacks continue to be opportunities to buy value.

S&P 500 Technical Analysis

The S&P 500 is also rallying quite nicely. I think at this point in time, we have to look at this as a market that is trying to reach the 7,500 level. This is a market that will be looking at the $7,500 level as a potential barrier, but if we can break above there, it opens up the possibility of a market move towards the $7,600 level, and I do think that’s eventually where we go see this market attack. If we get above there, then we really start to rally, possibly as high as 7,700. I think the $7,300 level underneath, with the 50-day EMA offers a nice floor.

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