NASDAQ Forecast August 6, 2015, Technical Analysis
The NASDAQ gapped higher at the open on Wednesday, and the drove all the way to the 5180 handle. However, we found that the markets were not overly confident, and as a result we pulled back. We think this is simply a market that isn’t ready to put a whole lot of risk on before the Nonfarm Payroll numbers coming out on Friday. With this, we think that the markets are ultimately going to be bullish, but we might be a bit skittish between now and then. With that, we are sitting on the sidelines during the day on Thursday.