Nasdaq 100, Dow Jones 30 and S&P 500 Forecasts – US Indices Drift Lower Early

The Nasdaq 100 has pulled back just a touch in early trading on Thursday as we continue to see interest rates drive where we’re going but we’re overbought anyway. I mean, look at this chart. This is ridiculous. So, a pullback would make a certain amount of sense but we’re already starting to see those yields drop a little bit and it is pushing more money back into Nasdaq.

So, somebody somewhere is buying. The 26,250 level continues to be a major floor in the market. It looks like we’re trying to go even higher, maybe trying to get to the 27,000 level in the short term.