NASDAQ 100 Price Forecast – NASDAQ 100 Continues to Look Bullish

NASDAQ 100 Technical Analysis

The NASDAQ 100 has been grinding a little higher on the 4-hour chart to show short-term bullish pressure after a big move during the previous session. So, with this, it looks like the NASDAQ 100 is trying to front run the FOMC and the CPI numbers in America during the Wednesday session, which of course will have a major influence on where we go next. Short-term pullbacks should be opportunities to get long on the cheap as it were, and I think the 19,000 level will continue to be a bit of a floor in this market, with the 50 day EMA offering a bit of support as well.

With that being the case, I think you’ve got a situation where you’re just looking for value and you’re taking advantage of it. Given enough time, I do think that we go looking to the 19,400 level and perhaps even down the road, sometime this summer, it wouldn’t be overly surprising to reach the 20,000 level. However, it will take some time to get there, especially as there are so many moving pieces at the moment that the markets will have to deal with.

Short-term pullbacks, again, I think are just buying opportunities. There’s nothing on this chart that even remotely suggests that you should be thinking about the short side. Keep in mind that the NASDAQ is essentially an ETF of about five stocks these days. So as long as all of the usual suspects are out there doing fairly well, then it’s really difficult for the NASDAQ 100 to start falling.

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