NASDAQ Index, S&P 500 and Dow Jones Forecasts – US Indices Continue to Look to the Upside

NASDAQ 100 Technical Analysis

The NASDAQ 100 has rallied a bit during the early hours here on Monday as it looks like we are trying to do everything we can to reach the upside. The 26,250 level, I think, will be the target. But I also recognize that it’s a very choppy market. And of course, on Wednesday, we have the Federal Reserve interest rate decision coming out on Wednesday, which will have a major influence on a lot of different markets, short-term pullbacks. At this point, those are buying opportunities that people will be looking to get involved in, with 25,000 underneath offering massive support.

Dow Jones 30 Technical Analysis

The Dow Jones 30 is pretty quiet in the pre-market trading hours as we are drifting around, but again, it looks fairly positive. I think this one might be more or less in a holding pattern between now and Wednesday. So don’t be overly surprised if we find ourselves trying to just drift back and forth, waiting to find out what Jerome Powell has to say after the press conference. But at this point in time, I would point out that the 47,000 level looks to be massive support underneath.

S&P 500 Technical Analysis

The S&P 500 has been slightly positive in pre-market trading as it looks like it is trying to do everything it can to break out to the upside, but ultimately, I think you’ve got a scenario where the market is likely to go looking to the 7,000 level sooner rather than later. And as a result, I do like this market, but I also recognize that we are a little bit stretched. And of course, we have that interest rate decision on Wednesday that could cause some volatility. So, look at pullbacks as probable and also look at pullbacks as potential buying opportunities in this bullish market.

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