Nasdaq 100, Dow Jones 30 and S&P 500 Forecasts – US Indices Looking to Start the Week Positive

NASDAQ 100 Technical Analysis

The Nasdaq 100 has rallied during the trading session on Monday, and it looks like we are trying to get back towards the 30,000 level. The 30,000 level is an area that I think will offer a little bit of resistance, but if we can break above there, we could go looking to the 30,060 level. Short-term pullbacks will continue to see the 50-day EMA offer support. This being broken to the downside will have me pausing to reset my thought process.

Dow Jones 30 Technical Analysis

The Dow Jones 30 looks pretty strong at the moment. It is hovering around the 52,000 level, and I think the 52,000 level continues to be an area of a lot of interest, but I do think that the buyers will continue to see a potential break above 52,600 as an opportunity to send this market much higher. We may go sideways for a little bit; we have been for a couple of weeks, simply working off the excess froth from the rally that got us here to begin with.

S&P 500 Technical Analysis

The S&P 500 looks bullish. I think it’s heading back towards the 7,500 level. That is an area that I think also offers a little bit of resistance, but ultimately, short-term pullbacks, I think, are buying opportunities. 7,300 is your floor, eventually I think we can challenge 7,600 again. Right now, it looks like we’re just kind of continuing the back-and-forth grind higher. This uptrend is still intact, and therefore, I have no interest in shorting this index anytime soon.

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