NASDAQ 100 Price Forecast – NASDAQ 100 Continues to See Upwards Momentum

NASDAQ 100 Technical Analysis

It looks like the NASDAQ 100 is going to try to get to the recent sell-off level near the 18,400 level. But it’ll be interesting to see if we can continue to see this type of pressure, short-term pullbacks continue to be a buying opportunity, especially with the 50-day EMA and the 17,850 level.

Both, I think, offer valuable areas that a lot of traders will look to get involved in. Keep in mind that the NASDAQ 100 is very well known to be a momentum index, and of course, it’s not an equal-weighted one, so it only takes a handful of typical stocks to move this thing.

If we were to break down below the 50 day EMA, that could set the market for a much deeper correction towards the 17,000 level, but right now, it looks like we continue to see plenty of buyers, and I think this will continue to be the way forward as there will always be people out there looking to find value in a market that is so strong.

If we can break out above the recent highs near the 18,450 level, then that opens up the possibility of a move to the 20,000 level. In general, I think you look at each dip as a buying opportunity, and I do think that’s why Wall Street continues to feel the same way. At this point in time, we are likely to continue to see a “buy on the dips” mentality, as the markets remain very much run on liquidity at this point, and not whatever the economy is actually doing.

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