Nasdaq 100, Dow Jones 30 and S&P 500 Forecasts – Rising Yields and Middle East Risk Weigh on Stocks

The S&P 500 also finds itself falling towards the uptrend line of an ascending triangle and the 50-day EMA. A bounce from here could open up a significant amount of interest as it would confirm that the triangle is still holding. The 50-day EMA sits just below that uptrend line as well, and that is a widely followed indicator. It has offered support multiple times here recently, so that will be worth watching. The 7,500 level above is an area that seems to be a bit of a magnet for price. We’ll see how things play out.

As things stand right now, though, the overall attitude of the market is one of a little bit of laxness, just sitting on the sidelines trying to figure out where things are going in the Middle East situation at this point. And it’s very difficult, I think, for clarity to be found by most traders.