NASDAQ 100 Price Forecast – NASDAQ 100 Shows Signs of Support Again

NASDAQ 100 Technical Analysis

The NASDAQ 100 rallied a bit after initially pulling back ever so slightly during the trading session on Tuesday, as it looks like the 19,500 level is trying to offer some type of support barrier. At this point, I think the market is probably trying to also carve out a potential trading range. And with that being the case, it does make a certain amount of sense that we have to push back against the recent selling. The $19,750 level above could be a short-term target. If we can break above there, then the market could go looking to the $20,000 level.

Any pullback at 19,500 level tests support yet again. Breaking down below there opens up a move to the 19,150 level. Keep in mind that the NASDAQ 100, of course, is going to be driven by a handful of stocks because it’s not really 100, it’s more like three. And as long as those stocks do okay, you will more likely than not see a bit of upward pressure.

Keep an eye on, you know, Nvidia, Microsoft, Meta, Apple, those types of companies. So, with that being the case, it makes a certain amount of sense that we get a little bit of a pushback because everybody buys the same companies over and over again. I do think that the longer term uptrend is very much intact, and therefore I don’t want to short this market anytime soon, as that has led to nothing but losses for people over the last several months.

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