NASDAQ 100 Weekly Price Forecast – NASDAQ 100 Continues to Consolidate

NASDAQ 100 Technical Analysis

You can see that the Nasdaq 100 has been all over the place this week as we continue to see a lot of noise in general. With that being said, I like the idea of taking advantage of short term dips, but it looks like we are essentially in the middle of a consolidation area between the 17,775 level and the 18,500 level above. This is an area that if we do break above, then there will be a massive amount of “FOMO” trading coming.

In general, this is a market that given enough time, we will have to make a bigger move. But we’re heading into earnings season. So, it’s possible that we will get a lot of noise in the short term. With all that being said, I think you have to look at this through the prism of trying to find value occasionally, but this is a scenario where you have to be very cautious with your position sizing as market participants will continue to see a lot of noise out there during earnings season.

Also, it’s important to pay attention to the interest rate situation in the United States and of course, geopolitics. So with all of that, I think you have to look at this for the possibility of very dangerous volatility. So don’t get overly exposed to this market and recognize that if we break down below the 17,775 level, then we could be looking at a much more severe pullback. If we can break above 18,500, then I think you have a real shot at the market truly taking off to the upside.

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