NASDAQ Forecast August 28, 2015, Technical Analysis

The NASDAQ gapped higher at the open on Thursday, clearing the 4750 level. With this, we believe that the NASDAQ is going to continue to go higher and therefore we are buyers of pullbacks and of course a break above the top of the range for the session on Thursday. We believe ultimately this market will head back to the 5100 level in the short-term, and perhaps even gain above there depending on what happens now that the larger traders have returned with liquidity from their vacations. Pullback should represent value going forward as well.