NASDAQ 100 Index, S&P 500 and Dow Jones Forecasts – US Indices Trying to Bounce After Overnight Selling

NASDAQ 100 Technical Analysis

The Nasdaq 100 initially fell a bit during the overnight session as the KOSPI in Korea collapsed, but we’ve since seen a bit of a bounce, and it looks like the Nasdaq is showing signs of life—perhaps unconcerned about developments in Korea. We experienced a significant selloff over the last 36 hours or so, but we remain firmly in an uptrend. It’s also worth noting that some of the larger stocks are performing reasonably well in pre-market trading, which is encouraging. I believe the 25,000 level will act as support, making this a potentially viable dip, though we’ll have to wait and see.

Dow Jones 30 Technical Analysis

The Dow Jones 30 has dipped slightly, but it appears that the 47,000 level is trying to hold. A bounce from here could send the market back toward 48,000, but again, we’ll need to see confirmation. Ultimately, this market continues to exhibit noisy behavior, and volatility remains a key feature rather than a problem. I still anticipate that the Dow Jones 30 will eventually break above the 48,000 level.