US Indices Forecast | NASDAQ 100, Dow Jones, and S&P 500 Remain Bullish

What to Know

• US stock indices remain bullish as optimism grows around potential progress in US–China trade relations.
• Earnings season is underway, and so far, corporate results have been broadly supportive of the market’s positive sentiment.
• The NASDAQ 100 continues to show strength, with support near the 25,000 level and tech giants like Tesla and Nvidia driving momentum.
• The Dow Jones 30 is approaching the 48,000 level, with strong support seen near 47,000 and the 50-Day EMA maintaining an upward slope.
• The S&P 500 remains steady following recent gains, with key support near 6,800 and a potential target toward the 7,000 level.
• Overall sentiment remains bullish, but traders should watch for short-term pullbacks as potential buying opportunities.

US indices continue to celebrate the idea that the Chinese and Americans are getting fairly close to agreeing to a larger deal. Beyond that, we are also in the midst of earning season and that of course is a major influence on what happens next. So far, earnings have been fairly decent, and some of the biggest names in the United States will be reporting over the next several days, building a bit of anticipation.

NASDAQ 100

NASDAQ 100 continues to look bullish, and in premarket trading on Tuesday, it looks as if the market is simply going to digest some of the gains from the previous session. After all, Monday started the week with a huge bang, as traders started to pay close attention to the idea of the US/China trade relations warming out. If the Americans and the Chinese can, in fact, find some type of agreement, that should help the stock markets in general. The NASDAQ 100, of course, is influenced by a handful of stocks, so pay attention to all of the usual suspects, such as Tesla and Nvidia.

All things being equal, this is a market that looks as if it has plenty of support underneath, especially near the 25,000 level, which, of course, is a large, round, psychologically significant figure, with the 50 Day EMA racing to get there and offer even more support.

Dow Jones 30

The Dow Jones 30 is positive in premarket trading as it looks like the index is trying to get to the 48,000 level. Short-term pullbacks are possible, but it also makes quite a bit of sense that we will see buyers on dips coming into the picture, with the 47,000 level offering a bit of support, not only due to the psychology of a round figure, but also the previous high that the market had paid quite a bit of attention to. The 50 Day EMA is at the 46,029 level and rising, suggesting that the uptrend is still very healthy, and pullbacks will offer value that people are willing to take advantage of.

S&P 500

The S&P 500 is quiet in premarket trading, but this makes some sense because the market had spent quite a bit of energy on Monday to get here. That being said, the fact that the market is sitting sideways after a move like that suggests that the market is likely to continue to be bullish. Short-term pullbacks more likely than not will offer buying opportunities, especially near the 6800 level, which of course has been important multiple times. There is a major uptrend line underneath, with the 50 Day EMA offering support as well. Ultimately, it looks as if the S&P 500 is trying to get to the 7000 level.

For more daily forecasts and expert analysis on major US indices, including the NASDAQ 100, Dow Jones 30, and S&P 500, visit our Forecasts section and stay ahead of market trends.