NASDAQ 100 Forecast January 11, 2017, Technical Analysis

The NASDAQ 100 continues to show strength, as the Tuesday session led to yet another high. In fact, we broke above the top of the shooting star for money, so it suggests to me that buyers are going to continue to push much higher. I believe that the 5000 level is now the “floor” in the market, and that pullbacks should continue to be supported. After all, most traders would recognize this as a break out, and those who have missed the move will be looking to get involved as soon as they can.