NASDAQ Index, SP500, Dow Jones Forecasts – US Indices Continues to Look Strong

NASDAQ 100 Technical Analysis

The NASDAQ 100 has shown itself to be somewhat positive in the early hours here on Friday as it looks like we are going to continue to try to reach towards the 22,000 level. We have been somewhat quieter over the last couple of days, but keep in mind that Friday is an options expiration day. So, we will certainly have a lot of volatility at the end of the session. If that ends up being the case, it’s hard to tell where we end up, but the 21,000 level right now should offer support. So, I think that short term dips probably continue to get bought into.

Dow Jones 30 Technical Analysis

The Dow Jones 30 is trying to break above the high set previously this week and at this point in time could open up a move to the 42,800 level and then possibly the 43,500 level. 42,000 underneath should continue to be support right along with the 200 day EMA but this particular index doesn’t look anywhere near as stretched as the NASDAQ. So, I do anticipate that perhaps it plays catch up a bit over the next several sessions.

S&P 500 Technical Analysis

The S&P 500 looks like it’s ready to continue to rock higher towards the 6,000 level and then eventually the highs. At this point in time, it’s very difficult to get short of the market. And I think it’s probably only a matter of time before short-term pullbacks offer buying opportunities all the way down to at least the $5,800 level. Ultimately, this is a market that is just flying high now, as it looks like the trade war may not be as apocalyptic as everybody once thought.

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