NASDAQ 100 Price Forecast – NASDAQ 100 Continues to See Sideways Grind

NASDAQ 100 Technical Analysis

The NASDAQ 100 continues to see a lot of back and forth as we are waiting to see whether or not we get any real momentum. At this point in time, I think the situation is basically one of caution because quite frankly, it is a market that is almost fully based on risk appetite. And that risk appetite, of course, is all over the place due to traders not really knowing what to take into account when you look at the possibility of rate cuts.

While it is good for equities in general, the reality is that the market seeing too many rate cuts could actually spook it due to the fact that it would have people believing that the Federal Reserve is behind the curve. And the reality is they almost always are. So why would that not be a surprise? However, reality and price are two different things.

So, we will be watching to see whether or not the NASDAQ 100 can break above the 19,200 level. If it does, then I think we will go to the 19,500 level. If we break down below the 18,750 level, then I believe that the NASDAQ 100 falls fairly significantly from that level. In this environment, I could see a 1,000 point drop, and this would be a massive move that could send ripples through the financial markets overall. Pay attention to overall risk appetite, in various markets around the world to get a gauge on where this market could go also.

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