NASDAQ, DOW JONES & SP 500 Forecast – NDX Searches for a Bottom as DJIA Holds Up

The US stock market continues to travel through earnings season, with a lot of moving pieces at the moment. Technology shares have come under pressure due to AI‑driven volatility, while blue chips have been comparatively resilient.

NASDAQ 100

NASDAQ 100 daily candlestick chart. Source: TradingView.

The NASDAQ 100 looks very much like a market that is trying to find its floor, with the 25,000‑level offering a bit of a floor. The 50‑day EMA sits just above, and if we can break above there, then the NASDAQ 100 has a real shot at going higher. Ultimately, keep in mind that the markets will continue to be going through earnings season, so that obviously will capture a lot of attention.

However, we did have a bit of an AI‑induced sell‑off earlier this week, so that’s part of what’s going on here. Traders will be watching the 25,000 level closely for signs of support and whether momentum can turn higher.

Dow Jones 30

US Wall St 30 (Dow Jones 30) daily candlestick chart. Source: TradingView.

The Dow Jones 30 seems to be doing okay. It is probably a scenario where that’s as good as it gets right now as we are just middling along. The NASDAQ 100 has shown a bit of negativity while the Dow Jones 30 – the blue‑chip index – remains a flight to quality and is doing fairly well.

That tells me that there’s a lot going on under the hood. Given enough time, I do think that the Dow Jones 30 reaches the 50,000 level, but it’s just sluggish and choppy right now. Short‑term pullbacks may offer buying opportunities for patient investors.

S&P 500

S&P 500 daily candlestick chart. Source: TradingView.

The S&P 500 is doing okay early during the trading session on Wednesday as well. And again, this is because we have many companies out there to cushion some of the blow from the AI sell‑off.

The 50‑day EMA continues to offer support right along with the 6,800 level. If and when we get that daily close above 7,000, that will be a glorious day for the S&P 500 as it kicks off its next leg higher. Until then, expect range‑bound trading between 6,800 and 7,000.