NASDAQ Index, S&P 500 and Dow Jones Forecasts – US Indices Quiet on Christmas Eve

NASDAQ 100 Technical Analysis

The NASDAQ 100 looks like it is going to be very quiet on Wednesday, which is not a surprise. It is Christmas Eve, and it is a shortened session, and most Americans just really cannot be bothered. There will be, of course, some electronic trading, and in pre-market trading, we have done very little, but it looks more positive than negative if nothing else.

I do think the short-term pullbacks will continue to be buying opportunities over the next several weeks. Keep in mind that volume shrinks quite a bit this week and next week, so you could get erratic moves, but at this point, I see no reason to look at this as a market you should be shorting. I am still paying close attention to the 25,000 level for support.

Dow Jones 30 Technical Analysis

The Dow Jones 30 is slightly positive as well, but again, this is a situation where the volume just is not going to be there to get the market overly excited, at least unless, of course, something happens externally.

The 47,750 level continues to be support, and the 49,000 level above continues to be resistance. All things being equal, I am a buyer of dips, and I do think this is a market that, given enough time, will have to challenge 50,000. That is obviously a story for 2026, but I think that is where we are going.

S&P 500 Technical Analysis

The S&P 500 sits right here at all-time highs or within about 15 points of it as I record the video, and it does look like it wants to break out to the upside. I do think that the S&P 500 will find the $7,000 level before it is all said and done.

Short-term pullbacks are buying opportunities, and there is nothing on this chart that even remotely suggests that we should be thinking about going short. 6,800 continues to be supported, especially with the 50-day EMA reaching that level. Therefore, I am looking for dips and buying the right-hand side of the V in order to continue to take advantage of a longer-term uptrend.

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