S&P 500 And Nasdaq 100 Forecast – March 21, 2016

S&P 500

The S&P 500 initially rose during the course of the Friday session, but pulled back a little bit as we continue to struggle. Ultimately, if we pullback from here, there should be value hunters that get involved and try to take advantage of the fact that we pulled back. The market should eventually get to the 2080 handle, and then perhaps 2100. The 2000 level below should be massively supportive, essentially the “floor” in this market. Given enough time, the fact that the Federal Reserve is cutting back on interest-rate hike expectations, this should continue to throw money into the stock markets in America.

Nasdaq 100

Nasdaq 100 went back and forth during the day on Friday, essentially settling on a very neutral candle. With this, looks like we are struggling to get above the 4400 level for any real length of time, but if we can break above the top of the range for the day on Friday, we would go ahead and start buying as the market should then reach towards the 4500 level.

Pullbacks at this point should be buying opportunities as well, as the 4350 level should be supportive. With this, I am a buyer of supportive candles below, and I believe that you cannot sell this market. Keep in mind that the Nasdaq 100 tends to be highly influenced by the world’s global markets, as there are so many exporters in this index that will send technology to places like Europe, Asia, and the like.

I have no interest in selling, I believe that the quantitative easing coming out of the Federal Reserve will continue to drive money into the markets in general, and of course the Nasdaq won’t be any different from the other indices around the world, as it appears that central banks are stepping in and manipulating the markets and again.

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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