NASDAQ 100 Price Forecast – NASDAQ 100 Continues to Look Bullish

NASDAQ 100 Technical Analysis

You can see that we were closed on Friday in America for Good Friday, but when I look at the NASDAQ 100 chart, it’s more of the same. You can see rise, pullback, and then we rise again, and then we pull back again, and it looks like we’re in the midst of a pullback. The pullbacks are not very deep, and I think it’s probably only a matter of time before the buyers come back in. This is the pattern that we have been in for some time now, and I don’t see that changing anytime soon.

In fact, Monday is the beginning of a new quarter and typically that will bring in large inflows from quarter rebalancing. So, traders will have to get involved and get long of all of the assets everybody else is. That screams NASDAQ 100 going higher. So, with that being the case, I’m looking at dips right now as buying opportunities and I don’t have any interest shorting this market. In fact, I think we are essentially stuck in a “feedback loop” of buying at this point in time.

I see the 17,775 level underneath as support, backed up by the 50 day EMA. Above, we have the 18,500 level as resistance. If we can clear that, then it’ll just kick off the next leg higher, probably to the 19,000 level. Remember, the NASDAQ 100 is driven by a handful of stocks that everybody owns, so that’s why it will continue to rally, as passive investing has been the driver of everything at this point.

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