NASDAQ 100, Dow Jones 30 and S&P 500 Forecast – Indices Look Soft Again

NASDAQ 100 Technical Analysis

The NASDAQ 100 has fallen a bit in early trading on Tuesday as we continue to see a lot of noisy behavior overall. Furthermore, the markets are basically freaking out about a perceived recession coming, a concern about tariffs, and just general malaise overall. So, with that being the case, I think you have to look at this through the prism of a market that is now testing the crucial 200-day EMA, which of course is a major indicator that a lot of people will be paying close attention to. Ultimately, this is a market that I think over time could find support between the 200-day EMA and the 20,000 level, but we’ll just have to wait and see whether or not we get that technical bounce.

Dow Jones 30 Technical Analysis

The Dow Jones 30 has fallen pretty significantly as well, and now it looks like we are doing everything we can to test the lows of the previous session. Ultimately, the Dow Jones is forming a bit of a megaphone pattern, meaning that we are going to get a violent move. We just don’t know in which direction. We are still in an uptrend, so you would hope that would be what happens, but with as feckless as most indices are right now, you do have to keep an eye on the downtrend.

S&P 500 Technical Analysis

The S&P 500 currently finds itself just above the crucial 5,800 level. This is an area that’s been support more than once, and of course, an area that people will be paying close attention to not only due to that, but the fact that the 200 day EMA is sitting right there as well.

Because of this, I am watching closely, but I don’t necessarily have any real desire to put money into work quite yet. On a bounce, I may get involved. We just need to see whether or not momentum comes back into the market.

For a look at all of today’s economic events, check out our economic calendar.