NASDAQ 100 Price Forecast – NASDAQ 100 Continues to See Volatility

NASDAQ 100 Technical Analysis

The NASDAQ 100 has pulled back just a bit during the trading session on Tuesday, and it looks like the 20,500 level continues to be somewhat noisy and I do think that is a situation where we need to pay attention to short-term pullbacks as a potential buying opportunity. I think at this point you need to understand that this is a market that is basically running on momentum and perhaps nothing else.

But with that being said, I also believe that we are a little overdone. So, the question now becomes, are we going to pull back and find buyers at a lower level or are we going to just simply grind away sideways? I think a little bit of sideways action is probably exactly what this market needs as it has gotten a little too far ahead of it. So even if we break down from here, the 20,000 level is obviously an area that would attract a lot of attention.

And really, as we go into what could be another interesting earning season, I think you just continue to see a lot of value hunting on each and every pullback. I don’t really have a target to the upside. I just know that no matter what happens, people seem to be willing to step in and buy. This is a market that is almost certainly in some kind of bubble, especially in the “AI” area, but at this point, you cannot fight it.

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