US Indices Forecast, March 30, 2017

E-mini S&P 500

June E-mini S&P 500 Index futures are trading lower shortly before the cash market opening. Bullish traders tried to trigger a breakout to the upside, but the volume wasn’t there to continue the move.

The main retracement zone is 2327.25 to 2310.75. This zone provided support earlier in the week when the market made its low at 2317.75… Read More E-mini S&P 500 Forecast

E-mini Dow Jones

June E-mini Dow Jones Industrial Average futures are trading lower but inside Tuesday’s wide range and Wednesday’s narrow range. This indicates investor indecision and impending volatility.

Like yesterday, the market is trading in the middle of nowhere which typically means momentum will determine the direction of the market… Read More E-mini Dow Jones Forecast

E-mini NASDAQ-100

June E-mini NASDAQ-100 Index futures are trading lower shortly before the cash market opening. The index made a new contract high earlier when it took out 5441.00, however, the buying dried up after the index hit 5451.00.

Typically, an index reaches the window of time for a closing price reversal top during the 7 to 10 day time period from a main bottom. Today is only the sixth day up from the 5315.00 main bottom from March 22, however, the early price action suggests a closing price reversal top may be forming… Read More E-mini NASDAQ-100 Forecast

U.S. Dollar Index

U.S. Dollar Index futures touched a nine-day high early Thursday. The move was primary driven by a weaker Euro. It fell on reports that the European Central Bank is expected to maintain its low interest rate environment.

The dollar gained strength against the Euro following a report by Reuters that European Central Bank policymakers were wary of changing their policy message.

In the U.S. markets on Thursday, investors will get the opportunity to react to the third release of U.S. Q4 GDP and weekly jobless claims figures. Investors will also hear from Fed officials Mester, Kaplan, Williams and Dudley… Read More  U.S. Dollar Index Forecast