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

Nasdaq 100 Technical Analysis

The Nasdaq 100 initially tried to rally during the trading session on Thursday, but gave back the gains to get back to the 29,500 region. Ultimately, this is a market that I think, given enough time, we will probably see a lot of buyers coming out on dips, with the 29,000-level offering a bit of a floor.

All things being equal, this is a market that I think will continue to see a lot of interest based on the idea that the artificial intelligence boom will continue to drive the Nasdaq 100 much higher.

Dow Jones 30 Technical Analysis

The Dow Jones 30 broke above the 50,000 level during the day on Thursday as traders continued to push this index higher. Short-term pullbacks I think are buying opportunities right at the 50,000 level just as the 50,500 level could be the next target. If we can break above there, we have just broken above a major swing high and that could send this market much higher.

Ultimately, I think this is a situation where traders are going to continue to look at the Dow Jones 30 as a market that quite frankly, I think needs to play catch up to the other indices.

S&P 500 Technical Analysis

The S&P 500 continues to climb and, quite frankly, looks like it’s got no interest in stopping anytime soon. So, with that I think the S&P 500 is on its way to 7,500, possibly higher than that, we’ll just have to wait and see. Short-term pullbacks are buying opportunities and will remain so. I don’t have any interest in shorting and I think the 7,300 level is now your major floor in the market. I don’t think we will get there anytime soon, but if we were to reach towards that area, just know that’s a region where I think a lot of interest would show up.

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