NASDAQ Index, S&P 500 and Dow Jones Forecasts – US Indices Continue to Look to the Upside Overall

Dow Jones 30 Technical Analysis

The Dow Jones 30 is fairly quiet during the trading session. So, we’ll have to pay close attention to it, but I think you’ve got a situation here where traders are going to be looking at this as a market that is trying to stay with these trend lines, which have been so important for several months, going all the way back to June. Even if we break down below there, the 46,000 level should offer support. Again, this is like the Nasdaq 100, perhaps it is a little extended, but should see plenty of buyers on dips.

S&P 500 Technical Analysis

The S&P 500 finds itself fairly quiet during the session as well. And I think at this point, you have to look at it through the prism of a market that is just going higher at a 45 degree angle. We do have an uptrend line that offers a bit of support that is backed up by the 50 day EMA. And the 6800 level above is trying to offer a significant amount of resistance. We’ll see if we can break above there. It is a large, round, psychologically significant figure, but at the end of the day, there’s nothing special about it. This is a nice grind higher. I think it continues, but the occasional pullback offering a little bit of value should be looked at as such.

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