Daily Share Market Forecast May 18, 2017

S&P 500:

Expectation: Bullish long term

Target: 2400 and upwards

The S&P 500 was very bearish yesterday and dropped close to 40 points, primarily due to negative political news surrounding the administration. Our forecast for this market remains the same at this time. This market is still quite bullish and we do not recommend shorting this. We expect this market to move upwards and it should close above the 2400 levels again and then move towards higher levels. At this point in time, the 2340 mark is a support level for this market. If the market goes below this level and closes below it, then further downward movement may be possible. However, we expect this market to remain bullish.

Dow Jones 30:

Expectation: Bullish long term

Target: 21,000

The Dow Jones 30 too was sharply bearish yesterday and dropped nearly 360 points. Our forecast for this market remains the same at this time. We believe that there is strong underlying bullish sentiment in this market and we expect the bullish momentum to return soon. You can aim to buy at the current levels. We expect that this market will soon return to the 21,000 levels and then move higher.

NASDAQ 100:

Expectation: Bullish long term

Target: 5700

The NASDAQ 100 too was very bearish yesterday and dropped over 120 points. Overall, our forecast for this market continues to remain strongly bullish. We expect strong bullish momentum to continue for some more time and strongly advise against going short here. You can aim to buy at the current levels. We expect this market to continue moving upward and regain the 5700 level soon. The 5600 region is likely to be a support level for this market and the NASDAQ 100 should remain above this level in the near term.