Daily Share Market Forecast May 23, 2017

S&P 500:

Expectation: Bullish

Target: 2400 and upwards

The S&P 500 was bullish yesterday and ended the day at 2394. This market should continue to be 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 2370 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

Target: 21,000

The Dow Jones 30 too was strongly bullish yesterday and closed at 20,895. This reflects the strong underlying bullish sentiment in this market and we expect the bullish momentum to continue. 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. The 20,850 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. The 20,970 mark is a psychological resistance level for this market currently.

NASDAQ 100:

Expectation: Bullish

Target: 5700

The NASDAQ 100 too was bullish on Friday and closed at 5698. 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 5650 region is likely to be a support level for this market and the NASDAQ 100 should remain above this level in the near term.