Daily Share Market Forecasts for the week May 1, 2017 to May 5, 2017

Daily Share Market Forecast May 5, 2017

S&P 500:

Expectation: Bullish

Target: 2450 and upwards

Yesterday, the S&P 500 ended up marginally higher at 2389. This market is still quite bullish and we do not recommend shorting this. The current slow movement phase of the market is a part of the natural fluctuation that forms part of any bullish run. We expect the bullish momentum to return soon and the market should reach the 2400 levels shortly and then move upwards. 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.

Dow Jones 30:

Expectation: Bullish

Target: 21,500 to 22,000

The Dow Jones 30 fell marginally yesterday and ended the day at 20,951. We believe that there is strong underlying bullish sentiment in this market and we expect bullish momentum to return soon. 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 expect that this market will soon breach the 21,000 level and then move towards the 22,000 level.

NASDAQ 100:

Expectation: Bullish

Target: 5700

The NASDAQ 100 moved up marginally yesterday and closed at 5626. 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. 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 in time. We expect this market to continue moving upward and target the 5700 level soon. The 5580 to 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.

Daily Share Market Forecast May 4, 2017

S&P 500:

Expectation: Bullish

Target: 2450 and upwards

Yesterday, the S&P 500 was quite choppy and it finally closed just a little bit lower at 2388. 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 believe that this market is still quite bullish. Yesterday’s minor dip is only part of the natural fluctuation in a market during a long term bullish phase. We expect the bullish momentum to return soon and the market should reach the 2400 levels shortly and then move upwards.

Dow Jones 30:

Expectation: Bullish

Target: 21,500 to 22,000

The Dow Jones 30 initially fell sharply yesterday but later moved up and ended the day a little higher at 20,957. The return of buying momentum after the sharp initial drop yesterday is a very positive sign and it reflects the underlying bullish sentiment in the market. We expect the bullish momentum in this market to continue in the short term. 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 expect that this market will soon breach the 21,000 level and then move towards the 22,000 level.

NASDAQ 100:

Expectation: Bullish

Target: 5700

The NASDAQ 100 moved lower yesterday and closed at 5625. 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. 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 in time. We expect this market to continue moving upward and target the 5700 level soon. The 5580 to 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.

Daily Share Market Forecast May 3, 2017

S&P 500:

Yesterday, the S&P 500 moved lower initially but later recovered all of its losses and ended just a little bit higher. At this point in time, our forecast for this market remains unchanged. We are still bullish about the S&P 500 and expect further movement upwards. During this bullish movement, some fluctuations are likely and some minor pullbacks and dips are possible. Such dips would be attractive for buyers and more buying activity should return shortly. 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 (with a target of 2500) and do not recommend shorting the S&P 500.

Dow Jones 30:

The Dow Jones 30 moved moderately upward yesterday but stayed below the 21,000 mark. We remain bullish about this market and expect the bullish momentum to continue in the short term. 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 and do not recommend going short. The 21,000 mark continues to provide some resistance to bullish momentum in this market but we expect this level to be breached and this market could then move towards the 22,000 level.

NASDAQ 100:

In line with the other major indices, the NASDAQ 100 moved upwards yesterday and closed near the 5650 levels. 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. 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 in time. We expect this market to continue moving upward and target the 5700 level soon. The 5580 to 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.

Daily Share Market Forecast May 2, 2017

S&P 500:

Yesterday, the S&P 500 moved marginally upwards. At this point in time, our forecast for this market remains unchanged. We are still bullish about the S&P 500 and expect further movement upwards. During this bullish movement, some fluctuations are likely and some minor pullbacks and dips are possible. Such dips would be attractive for buyers and more buying activity should return shortly. 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 (with a target of 2500) and do not recommend shorting the S&P 500.

Dow Jones 30:

The Dow Jones moved moderately lower yesterday and stayed below the 21,000 mark. This is likely to be only a minor dip before the market continues its upward run. Also note that for much of Europe, May 1 was a holiday, which would have kept traders from Europe out of the markets. This too could have contributed to the lower buying momentum. We remain bullish about this market and expect the bullish momentum to continue in the short term. 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 and do not recommend going short. The 21,000 mark continues to provide some resistance to bullish momentum in this market but we expect this level to be breached and this market could then move towards the 22,000 level.

NASDAQ 100:

Unlike the Dow Jones 30, the NASDAQ 100 moved upwards yesterday and breached the 5600 mark. 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. 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 in time. We expect this market to continue moving upward and target the 5700 level soon. The 5580 to 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.

Daily Share Market Forecast May 1, 2017

S&P 500:

On Friday, the S&P 500 moved slightly lower but we expect this to be a slight dip and not a significant longer term bearish turn in momentum. We are still bullish about the S&P 500 and expect further movement upwards. During this bullish movement, some fluctuations are likely and some minor pullbacks and dips are possible. Such dips would be attractive for buyers and more buying activity should return shortly. 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 (with a target of 2500) and do not recommend shorting the S&P 500.

Dow Jones 30:

The Dow Jones remained range bound on Friday and stayed below 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 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 and do not recommend going short.

NASDAQ 100:

Just like the Dow Jones 30, the NASDAQ 100 had little movement on Friday. 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. 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 in time.

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