NASDAQ 100, Dow Jones and S&P 500 – US Indices Look Sluggish

Nasdaq 100 Technical Analysis

The NASDAQ 100 pulled back just a bit during the early hours on Friday, but it also looks like we are starting to at least attempt to bounce a bit here. So I think there’s a shot that we might begin to see a little bit of a recovery. Now, the question, of course, is whether or not we have enough momentum to actually make that happen. But if we do, then the 20,000 level will be the next target. Anything above 20,000 could be very interesting. In the short term though, I think you’re just waiting to see if the market has actually found its footing.

Dow Jones 30 Technical Analysis

In Dow Jones 30, it’s a pretty neutral candlestick. It’s just a touch negative as we are sitting on top of the 200 day EMA. This is an index that probably could get a little bit of a boost from the whole tariff thing because quite frankly, a lot of these companies would be protected by that. It actually might be good for business. That doesn’t mean that the Dow Jones 30 is going to take off to the upside from here, but what it does suggest is that it will probably do better than many of the other indices. At this point, it looks like we’re just trying to stabilize.

S&P 500 Technical Analysis

The S&P 500 is very, very quiet during the early hours on Friday. So that’s a good shot at perhaps turning things around as well. It’ll be interesting to see if we can continue to build a case to go higher. And if we could get a daily close above the 200-day EMA, that might be enough for people to get involved.

It’ll be interesting to see how the S &P 500 sorts through the tariff mess, because when I look at the chart, you could make an argument for stabilization. You could also make an argument for a bearish pennant. So, somebody’s going to be very wrong here. As a trader, your job is probably to sit here and watch, and figure out who it is before putting your money to work.

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