Daily Share Market Forecasts for the week April 24, 2017 to April 28, 2017

Daily Share Market Forecast April 28, 2017

S&P 500:

The S&P 500 largely remained range bound yesterday and ended up only marginally higher. We are still bullish about this market and expect further movement upwards towards 2400. It is expected that during this bullish movement, some fluctuations may occur and some minor pullbacks and dips are possible. Use such dips to buy and consolidate your position since the bullish momentum is expected to return soon. This market still has a lot of potential for bullish movement and we do not recommend going short on the S&P 500.

Dow Jones 30:

The Dow Jones closed lower yesterday after initially moving up. We had predicted that while the market is bullish overall, some fluctuations and dips may appear from time to time as the market trends upwards in general. Hence, this marginal dip is no surprise. You should ideally use such periodic dips as an opportunity to buy and consolidate your position during these dips. We are bullish on this market and do not recommend going short.

NASDAQ 100:

The NASDAQ 100 gained significantly yesterday and continues to remain strongly bullish. Accordingly, there is no change in our forecast for this market. We expect strong bullish momentum to continue for some more time and strongly advise against going short here. Stay on the lookout for any minor dips along the way as the market continues upwards; you can aim to buy and consolidate your positions during such dips. This market has a lot of potential to move further upwards at this point of time.

Daily Share Market Forecast April 27, 2017

S&P 500:

The S&P 500 showed bullish movement yesterday in line with expectations. We have been bullish about this market so far and expect further movement upwards towards 2400. To add to the general bullish sentiment, the proposed tax cuts also provide impetus to the bullish movement. During this bullish movement, some fluctuations are likely and some minor pullbacks and dips are possible. These dips may be good opportunities for you to buy and consolidate your position since the long term bullish momentum is expected to continue. We expect the S&P 500 to breach the 2400 level and test the 2500 mark.

Dow Jones 30:

The Dow Jones was a little bullish yesterday and it trended upwards towards the 21,100 mark. We are quite bullish here and expect the bullish momentum to continue. Some fluctuations and dips may appear from time to time as the market moves upwards. Stay on the lookout for such dips and aim to buy and consolidate your position during these dips. We are bullish on this market and do not recommend going short. The Dow Jones has been relatively bullish over the last few days, so a minor dip (and then further bullish movement) may be expected.

NASDAQ 100:

The NASDAQ 100 remained range bound yesterday though it continues to remain strongly bullish for the longer term. We expect strong bullish momentum to continue for some more time and strongly advise against going short here. If there are any minor dips along the way as the market continues upwards, then you can aim to buy and consolidate your positions. This market has a lot of potential to move further upwards at this point of time. However, a minor dip may precede further bullish movement.

Daily Share Market Forecast April 26, 2017

S&P 500:

The S&P 500 showed bullish movement yesterday and it moved towards the 2390 mark. We are still bullish about this and expect further movement upwards towards 2400. During this bullish movement, some fluctuations are likely and some minor pullbacks and dips are possible. These dips may be good opportunities for you to buy and consolidate your position since the bullish momentum is expected to return soon. We expect this bullish momentum to continue in the near term and do not recommend shorting the S&P 500.

Dow Jones 30:

The Dow Jones showed strong bullish momentum yesterday and it trended upwards towards the 21,000 mark. We are quite bullish here and expect the bullish momentum to continue in the short term. Some fluctuations and dips may appear from time to time as the market upwards. Stay on the lookout for such dips and aim to buy and consolidate your position during these dips. We are bullish on this and do not recommend going short.

NASDAQ 100:

The NASDAQ 100 gained significantly yesterday and continues to remain strongly bullish. We expect strong bullish momentum to continue for some more time and strongly advise against going short here. If there are any minor dips along the way as the market continues upwards, then you can aim to buy and consolidate your positions. This market has a lot of potential to move further upwards at this point of time.

Daily Share Market Forecast April 25, 2017

S&P 500:

The S&P 500 opened higher on Monday, reaching towards the 2400 level, but turned around to form a shooting star. I believe there is plenty of support underneath though, so I’m looking for support of candles on pullbacks to take advantage of what I think is a very bullish market anyway. Given enough time, we should reach for the 2400 level, and then a break above there should send this market to the 2500 level. I have no interest in shorting, and believe that the 2300 level is the “floor” in the market.

Dow Jones 30:

The Dow Jones 30 began higher at the open on Monday, but found a bit of resistance. Ultimately, the market will more than likely pull back to find support, and then continue to go higher. Earnings season will continue to cause volatility, so it won’t necessarily be a straight line to the upside. I am a buyer and not a seller in this market.

NASDAQ 100:

The NASDAQ 100 moved to the upside as well, reaching the 5500 level. That is an area that I think is going to cause a little bit of psychological resistance, so a small pullback at this time may make a lot of sense. However, I believe that the pullback should offer a buying opportunity at lower levels, as we continue to see a nice uptrend in this market. I have no interest in selling.

Daily Share Market Forecast April 24, 2017

S&P 500:

On Friday last week, the S&P 500 closed slightly lower. However, it did not breach any significant supports or floors and thus, I believe that this is just a phase of consolidation. Keep in mind that this is the earnings season. Hence, such minor fluctuations are par for the course. Overall, I am still quite bullish and I believe that the long term uptrend remains strong. Thus, more buying activity should return quickly and the upward momentum should hold. At such a time, you should look to buy during the dips and consolidate your positions. The 2300 mark continues to be a key support and markets should hold above this mark.

Dow Jones 30:

In line with the S&P 500, the Dow Jones also closed slightly lower on Friday last week. However, there was little activity during the day and it was a very subdued session. Since this is the earnings season, such low activity, low buying days are part of the trend. Overall, the market remains quite attractive and the long term bullish movement is expected to continue. Wait for the dips and look to buy and consolidate during the dips – that would be the correct strategy during this period. I expect the bullish momentum to return soon and do not plan on going short.

NASDAQ 100:

The NASDAQ 100 also saw little activity on Friday and it closed near its highs. I believe that the long term bullish trend continues and the market is likely to move towards the 5500 key milestone soon. Meanwhile, slight dips in the market offer good opportunities for buying, consolidating and adding to your profits. Overall, I remain quite bullish and do not intend to go short.

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