NASDAQ 100 Weekly Price Forecast – NASDAQ 100 Continues to Look Positive

NASDAQ 100 Technical Analysis

The NASDAQ 100 has had a strong week and despite the fact that the strong jobs number on Friday shook the foundation a little bit, it’s still a very positive market. Momentum has been a major issue in this market, and I think this is a market that will continue to attract a lot of attention, and of course a lot of monetary inflows. At the end of the day, this is the only thing that matters.

Ultimately, this is a market that is mainly driven by just a handful of stocks, so as long as all the usual suspects are doing well, we will go higher. In fact, I think we do. It’s very likely that eventually we will try to make our way to 20,000 above, and short-term pullbacks in the meantime more likely than not offer value that you can take advantage of a pretty significant floor in the market, at least from an intermediate standpoint.

That, of course, assumes that we get anywhere near there. With that being said, I think this is a market that you look at each dip as a potential buying opportunity. And I do think that it’s pretty much impossible to short this market. In fact, it’s not until we break down below the 17,000 level that I even have a remote idea of selling. At this point, that doesn’t look very likely, and therefore it is likely that the index will continue to see a lot of excuses, reasons, and money to get this thing rallying.

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