NASDAQ 100 Technical Analysis
The NASDAQ 100 has pulled back ever so slightly in the early hours on Thursday, as it looks like we are trying to either establish a range or maybe get a buy on the pullback move going. The 23,000 level should continue to be important as support, and therefore I think this is more likely than I going to offer you opportunities every time there is a drop. To the upside, I expect the market to eventually go looking to the 23,600 level.
Dow Jones 30 Technical Analysis
The Dow Jones 30 has pulled back quite a bit during the trading session on Thursday in the pre-market and the 45,000 level looks very much like a major barrier that if we can break above there, we could really take off to the upside as this is an area that we’ve been challenging for a while. And this bullish flag, of course, is something that pretty much the whole world has been watching.
S&P 500 Technical Analysis
The S&P 500 has pulled back ever so slightly, but keep in mind that it led the way on Thursday and we are already starting to see it turn around and go to the upside. If we can continue the momentum, the first thing, of course, we would be watching is the 6,400 level, the next large round psychologically significant figure. A pullback at this point in time could offer some support near the 6,300 level, assuming we see that type of negativity, which, quite frankly, I’m not looking for.
For a look at all of today’s economic events, check out our economic calendar.