Daily Share Market Forecast June 14, 2017

S&P 500:

Expectation: Bullish

Target: 2450 and upwards

The S&P 500 was bullish yesterday and ended the day at 2440. It appears that the market has shaken off the effects of Friday’s sell off and is ready to continue the bull run. Trend analysis indicates that this market will continue to be bullish and we do not recommend shorting this. We expect this market to move upwards and it should close above the 2450 levels soon and then move towards higher levels. If the market goes below the key 2400 support level and closes below it, then the bullish trend may change and further downward movement may be possible. However, looking at the charts, we expect this market to remain bullish.

Dow Jones 30:

Expectation: Bullish

Target: 21,500

The Dow Jones 30 was strongly bullish yesterday – it gained 92 points and closed at 21,328. Trend analysis indicates that this market will continue to be bullish in the near term and we do not recommend shorting this. We expect that this market will soon reach the 21,500 levels and then move higher. The 21,100 mark is the most immediate support level for this market. If the market goes below this level and closes below it, then the bullish trend may change and further downward movement may be possible. However, we expect this market to remain bullish.

NASDAQ 100:

Expectation: Bullish

Target: 5850

The NASDAQ 100 was bullish yesterday and closed at 5751. Over the previous 2 trading sessions, this market had been bearish and had reached the key support level at 5700 – it had closed at 5708 on Monday. But, the market was unable to breach the support level and is now starting its upwards movement again. The charts indicate that this market will remain bullish in the near term and we do not recommend shorting this. We expect this market to continue moving upward and hit the 5800 level again. The 5700 region is the immediate support level for this market and the NASDAQ 100 should remain above this level in the near term. You should use short term dips in order to buy and consolidate your positions.