NASDAQ, Dow Jones and S&P 500 Forecast – US Indices Somewhat Subdued in Early Thursday Trading

NASDAQ 100 Technical Analysis

The NASDAQ 100 has been fairly quiet during the pre-market trading as we are simply continuing in consolidation, and that does make a lot of sense. After all, we have non-farm payroll numbers coming out on Friday, so I don’t know if a lot of people would be excited about taking a lot of risk just ahead of that.

So, with that being said, we have to look at this through the prism of what happens next. Well, if we can break above the 22,000 level, then I think the NASDAQ 100 is ready to go higher. Any dip at this point in time will more likely that not end up being a buying opportunity.

Dow Jones Technical Analysis

The Dow Jones 30 has pulled back from all-time highs. It’ll be interesting to see if we can go higher later in the session. If we can break above 45,100, that might be a sign that the Dow Jones 30 is going higher regardless. A short-term pullback does make a certain amount of sense, and I don’t think it changes much.

So, I’m actually looking for more consolidation here, but I have my alarms set and if we can break that 45,100 level, it might be worth getting involved in but again, you have to worry about non-farm payroll announcements the next day.

S&P 500 Technical Analysis

The S&P 500, pretty sideways at the moment, looks a lot like the NASDAQ 100 where we’re just consolidating after a big move to the upside over the last say two months or so, we’ve been trying to work off some of the excess froth. And then of course we have all of the noise around trade wars, tariffs, et cetera. So, it’s all led to a very choppy and brutally volatile market, really to go nowhere. So, I think traders are just simply waiting for some type of clarity.

For a look at all of today’s economic events, check out our economic calendar.