US Indices Forecasts – Earnings and Rate Relief Drive Fresh Highs

NASDAQ 100 Technical Analysis

The Nasdaq 100 has seen a bit of positivity in premarket trading on Wednesday as it looks like we are approaching the 30,000 level pretty quickly. This is a market that has bounced rather significantly over the last 4 or 5 days and now really looks like it is starting to get a little stretched. That being said, the other major indices are breaking to fresh new highs, so there’s also a question: will the Nasdaq 100 have to play catch-up?

Dow Jones 30 Technical Analysis

The Dow Jones 30 is at an all-time high in premarket trading, and it looks very strong as well. We broke significantly to the upside during the Tuesday session. Wednesday looks like it might have a little bit of follow-through; we’ll just have to wait and see. The interest rates in America are hanging around 4.6%, so still elevated, but they have not spiked; that’s a good thing. And at this point in time, as we go through earnings season, it looks like the Dow Jones is still very positive.

S&P 500 Technical Analysis

The S&P 500 actually looks a little better to me, and it looks as if lower rates, earnings season, maybe some hope of a diplomatic solution in the Middle East kind of all combined together to get the market to break out of the consolidation area it had been in for a couple of months now, and now continue the overall uptrend that started back at the very end of March.

Ultimately, this is a market that looks very bullish. The buyers are most certainly in control. Typically, consolidation leads to continuation from a statistical standpoint, and that looks like it has played out yet again.

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