NASDAQ 100 Price Forecast – NASDAQ 100 Continues to See Upward Pressures

NASDAQ 100 Technical Analysis

Nasdaq 100 takes off on Friday after PPI. The Nasdaq 100 exploded to the upside during the early hours on Friday, after the PPI numbers came out four times hotter than anticipated. This was in stark contrast to the CPI numbers, coming in at half, and now it looks like everybody’s jumping back into all the usual suspects. All the AI stocks would not surprise me at all to see this thing turn around completely.

But, you know, we have some damage to repair, so keep that in mind. Short term pullback should end up being buying opportunities. And I think a lot of the profit taking from Thursday was drastic likely overdone. And that’s exactly what we’re seeing here is a reversal and a rebuke of this. With that being said I remain bullish.

I do think we hit the highs and I think it’s probably only a matter of time before we break them underneath. We have massive support at the 20,000 level and then again out of the 19,500 level with this. I like the idea of finding any value you can, but quite frankly, this is a massive and strong uptrend. There’s no reason to think it’s going to change anytime soon.

And this is just a simple continuation of what had been the case for some time. If we break the highs, then we could go looking to the 21,000 level, possibly even the 22,000 level above there. This of course would be a boon for the buyers, and I think it’s probably only a matter of time before the market truly takes off to the upside. I have no interest in shorting this market anytime soon, nor do I think anybody else does.

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