NASDAQ Index, S&P 500 and Dow Jones Forecasts – US Indices Continue to See Buyers on Dips

NASDAQ 100 Technical Analysis

The Nasdaq 100 plunged during the overnight session as Israel attacked Iran. And of course, the news got people looking for safety, so they sold risk assets. However, since then, we’ve seen the NASDAQ 100 really take off to the upside, showing signs of resiliency yet again. So, with this, it’ll be interesting to see how this plays out.

I think the adults are coming back into the room and they may be okay with what’s happened, at least nothing World War III like. And as we have been in a massive uptrend, it does make a certain amount of sense that there will be people out there willing to take a chance on buying here.

Dow Jones 30 Technical Analysis

The Dow Jones 30 has done the same thing, but it has turned around to recapture about half of its losses overnight. And I think at that point in time, you have to ask the question of whether or not it won’t return back to the crucial 43,000 level. The 43,000 level, of course, is an area that people have paid close attention to multiple times. And if we can break above there, we can really take on to the upside. That being said, it’s probably worth noting that it might be difficult to do it on Friday itself. And of course, there could be headline risk coming out of Iran.

S&P 500 Technical Analysis

The S&P 500 has fallen pretty significantly during the overnight session as well, but as I record this, we are struggling with the 6000 level. If we can break back above there, then you have to ask really what’s changed? Not much. We’re still in this area between 6000 and 6150, and this is, I think, going to be the last vestiges, the last barrier to overcome before we could rip higher. After all, that is an all-time high. And as we get more all-time highs, that tends to make more all-time highs.

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