NASDAQ 100 Forecast November 4, 2015, Technical Analysis

The NASDAQ 100 broke down during the course of the day on Tuesday, making a fresh, new high. With this, the market should continue to grind its way towards the 5000 level given enough time, but we also recognize that it is going to take a significant amount of time to get up there. A pullback at this point in time should continue to be massively supportive, especially considering that the market gapped above the 4500 level, as the most recent push higher has picked up quite a bit of momentum. We have no interest in selling.