NASDAQ 100, Dow Jones 30 and S&P 500 Forecast – US Indices Look to Rally on Monday

NASDAQ 100 Technical Analysis

The NASDAQ 100 rallied a bit during the course of the trading session here on Monday, as it looks like we are breaking above the 21,000 level, and it’s likely that we’ll continue to be important. Ultimately, I do think you have a situation where traders are trying to get these stocks on the cheap, as it were. We have a massive spike in volume, which of course suggests that there is real interest, and as a result, I think we continue to bounce around in this general vicinity. If we do go higher, the 50-day EMA becomes your next target.

Dow Jones 30 Technical Analysis

The Dow Jones 30 looks pretty healthy on Monday morning as we are now breaking above the 50-day EMA, and I think you’ve got a real shot at the market trying to get to the 45,000 level. The 45,000 level, of course, is an area that in the past has been important. So, I think you have to look at it as a potential ceiling. I think that’s where we’re trying to get to, but it may take some effort to get there. Short-term pullbacks should continue to be attractive.

S&P 500 Technical Analysis

The S&P 500 is threatening the 6,000 level, which happens to have the 50-day EMA sitting just above it. So, I think that all ties together for a nice short-term barrier. If we can get above that, I think that would be a very positive turn of events for the S&P 500, and it probably opens up a move to the 6,125 level above, which was basically the most recent all-time high. We have some work to do, but I think that’s what we’re trying to get happening here in the market.

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