Daily Share Market Forecast May 30, 2017

S&P 500:

Expectation: Bullish

Target: 2450 and upwards

The S&P 500 was range bound on Friday and ended the day at 2415. With the psychologically important 2400 mark being breached, this market is poised for greater heights. 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 2450 levels and then move towards higher levels. At this point in time, the 2400 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: 21,500

The Dow Jones 30 too was range bound on Friday and closed at 21,076. 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 reach the 21,500 levels and then move higher. The 21,000 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.

NASDAQ 100:

Expectation: Bullish

Target: 5800

The NASDAQ 100 was bullish on Friday and closed at 5788. 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 hit the 5800 level soon. The 5700 region is likely to be a support level for this market and the NASDAQ 100 should remain above this level in the near term.