Nasdaq 100, Dow Jones 30 and S&P 500 Forecasts – US Indices Continues to Rise as Rates Drop

NASDAQ 100 Technical Analysis

The Nasdaq 100 continues to show signs of strength as we are just continuing to climb. The 30,000 level is now in the rearview mirror and should offer a bit of support from what I can see. And given enough time, I do think that’s exactly what will play out.

Short-term pullbacks will continue to get bought into as the market favors, of course, risk appetite, especially with the interest rates in America dropping during the day. I think we continue much higher.

Dow Jones 30 Technical Analysis

The Dow Jones 30 finds itself supported as well, and I suspect it is probably only a matter of time before we break out to the 51,200 level. As things stand right now, the 50,000-level underneath is a major floor.

I think buying the dip continues to be the way traders look at this market. I have no interest in shorting it, despite the fact that I think it probably is a little bit more sluggish than others like the Nasdaq. I still look at this one positively.

S&P 500 Technical Analysis

The S&P 500 finds itself in fresh new territory again, and I think that will remain the scenario here. I like the idea of buying the S&P 500 on short-term dips.

I recognize that this is a market that will remain noisy, but over the longer term, I fully anticipate that the S&P 500 continues to grind its way toward the 7,700 level, which is my longer-term target at the moment. This could take some time, but the bulls are certainly the ones in charge at the moment.

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