NASDAQ 100 Price Forecast – NASDAQ 100 Continues to Look Bullish…

Traders, of course, will keep an eye on whether or not we can go further out into the risk spectrum and then therefore into higher alpha generating technology stocks. If we were to break down below the 20,000 level, then you need to look at the 19,800 level as potential support followed by the 19,500 level. Anything below the 19,500 level would signify a pretty significant turnaround.

And I think at that point in time, you would be entering a corrective phase. I don’t see that happening on the chart. And in fact, you could make an argument that we are just now starting to break out of a massive W pattern. It’s a little messy, but it is there if you squint. So, I do think that every time we pull back, we’ll continue to see buyers step in.

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