Daily Share Market Forecasts for the week April 10, 2017 to April 14, 2017

Share Market Forecast April 14, 2017

S&P 500:

In the S&P 500, the long term upward trend continues though the market has largely been moving sideways currently. Because of this, I believe that this market will continue to go higher, and that dips will continue to offer value that traders can take advantage of. I have no interest in selling and believe that the 20-day exponential moving average below should continue to offer quite a bit of support.

Dow Jones 30:

The Dow Jones 30 has been moving within a relatively narrow range for some time now. However, it appears that the support has held and the buyers have always returned on the dips. Because of this, I am very bullish in this market still, and I believe we are going to reach towards the highs yet again. I have no interest in selling and look at pullbacks as continued value.

NASDAQ 100:

The NASDAQ 100 has also been moving sideways mostly and looks set to continue to go higher in the longer term. Quite frankly, it looks as if it is ready to reach towards 5500 anytime. I like pullbacks as I believe that they offer value in a market that’s ready to take off to the upside. But, do note that the 5500 mark will have a certain amount of psychological resistance attached to it.

Share Market Forecast April 13, 2017

S&P 500:

The S&P 500 fell during the day on Wednesday as we continue to see a lot of skittish traders around the world. However, we are still consolidating, so I think it’s probably only a matter of time before the buyers return. Short-term back and forth trading will more than likely be the norm going forward, and because of this, I believe that short-term buyers will probably return but I am not expecting any type of significant move to the upside in the short term. Longer-term, I still believe in the bullish story as the market has simply been grinding sideways overall.

Dow Jones 30:

The Dow Jones 30, like most indices around the world, fell during the Wednesday trading session. However, we still sit above the vitally important 20,500 support level, so I think this is more of the same, simply grinding sideways. With that in mind, short-term back and forth type of trading is probably going to happen next.

NASDAQ 100:

The NASDAQ 100 fell significantly during the day on Wednesday, but remains well supported below and we are still looking at the 5300 level as a massive “floor” in the market. Because of this, I believe it’s only a matter of time before the buyers return, but I would step aside and wait for a supportive candle before putting any money to work.

Share Market Forecast April 12, 2017

S&P 500:

The S&P 500 fell during the session on Tuesday, but found enough support to stabilize the index later in the day. There was a lot of concern with global headlines coming out of North Korea and Syria, and that caused a bit of trouble in the beginning of the session. However, it looks as if the buyers remain, and dips continue to offer buying opportunities. I like this index a lot, but I think we are gradually trying to build up enough momentum to go higher. Between now and then, expect choppy buy on the dips situations.

Dow Jones 30:

The Dow Jones 30 fell initially during the session here on Tuesday, but found enough support at the 20,500 level to turn things around and form a hammer. This is a very bullish sign considering how many negative headlines came out around the world. Because of this, I continue to buy dips and I believe that we will eventually break out to the upside.

NASDAQ 100:

The NASDAQ 100 fell significantly during the day but recaptured about half of the losses. This shows yet again how resilient the stock markets are after we saw quite a bit of volatility and negativity coming across the newswires. With this, I continue to buy dips and I believe that the NASDAQ 100 will eventually find the 5500 level.

Share Market Forecast April 11, 2017

S&P 500:

The S&P 500 largely remained flat on Monday. As I have pointed out, there is a lot of support at lower levels – hence, it is only to be expected that significant drops will be rare. Ultimately, I believe that the market will continue to grind higher, perhaps reaching towards the 2400 level above. I believe that the 2300 level below is the “floor.” I have no interest in selling at this point of time.

Dow Jones 30:

The Dow Jones 30 rallied a bit during the day on Monday, as we continue to see significant support below at the 20,500 level. I think there is significant resistance just above though, so short-term pullbacks will be short-term buying opportunities. Ultimately, I do think that we go much higher and have no interest in shorting this market but I recognize that we may have to chop sideways for a while. Once we do get an impulsive candle to the upside, we will more than likely reach towards the 21,000 level again.

NASDAQ 100:

The NASDAQ 100 rallied a bit during the day as well as the 20-day exponential moving average continues to be reliable for support. I believe that this market will probably break out before the Dow Jones 30 does, so it could be a bit of a harbinger for the other market. I have no interest in selling and believe that short-term pullbacks are buying opportunities.

Share Market Forecast April 10, 2017

S&P 500:

The S&P 500 initially fell on Friday after a less than expected addition of jobs for the month of March. However, the 50-day moving average offered enough support to turn the market around and form a hammer. Because of this, I believe that the market is extremely well supported and it’s only a matter of time before buyers return on dips. Ultimately, I believe that the market will continue to grind higher, perhaps reaching towards the 2400 level above. I believe that the 2300 level below is the “floor.” I have no interest in selling.

Dow Jones 30:

The Dow Jones 30 fell initially after a bad jobs number came out of the United States on Friday, but found enough support at the 20,500 level to turn around and form a hammer. The 100-day exponential moving average offered support as well, and we ended up forming a hammer. I believe we continue to go back and forth going forward.

NASDAQ 100:

The NASDAQ 100 fell initially during the day but found enough support at the 20-day exponential moving average to turn things around. The hammer shows that buyers are most certainly interested in this market when we pull back as it offers value. I have no interest in selling and I believe that there is a significant floor at 5300.

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