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

NASDAQ 100 Technical Analysis

We’ve seen the NASDAQ 100 rally slightly in the early hours on Thursday as the bullish pressure continues. Ultimately this is a market that I do think is going higher and we’ll eventually try to get to the 20,000 level, although that’s probably going to take some time as we are a little overdone at the moment.

Short-term pullbacks should continue to be buying opportunities from everything I see. So, I am looking for dips to get involved. I wouldn’t necessarily chase it all the way up here, but clearly you can’t be a short seller of this market. There is massive support near the 17,850 level, which is quite a bit of distance from where we are right now.

I look at that more or less as a floor in the market. I don’t necessarily think we have a situation where we get there, but if we did get like a significant amount of selling pressure, that’s probably where the trend would turn right back around to the upside. If we break down from here, I would be very interested in the bottom of the Wednesday candlestick as a potential entry point as well.

Nonetheless, I think more likely than not, we do continue higher, but we may have short-term pullbacks throughout the day that traders will be looking to jump on and take advantage of. The one thing that you do need to keep in mind in this market is that Friday is options expiration, and that of course has major influence on the volatility profile of the market. So, Friday could be a bit wild and choppy, but nonetheless the trend is firmly ensconced here in the Nasdaq 100.

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