- The US stock markets have risen again during the month of September, and the NASDAQ 100 will have been no different.
- As I write this analysis, we are getting fairly close to the 25,000 level, an area that would obviously cause a lot of psychology to enter the market.
- Over the last several months, we have been in an up trending channel that has been very reliable, and as things stand right now it suggests that we will continue to see more of the same.
Will We See Value?
The question at this point in time will be whether or not “Will we see value?” In other words, is there going to be a compelling reason to jump into the market. I suspect that we are on the verge of either a short-term pullback, or an explosive move above the 25,000 level. Quite frankly, I am a little bit more inclined to believe the former rather than the latter. That being said, any pullback at this point in time should offer value that a lot of people would be interested in, as a lot of traders may have been on the sidelines during the summer when the NASDAQ 100 simply rose slowly with no real significant pullback.
Top Forex Brokers
If we were to break down significantly, as long as we can stay and stay above the 23,250 level, I anticipate that there should be plenty of buyers willing to get involved. Alternatively, if we just grind above the 25,000 level, it could bring in a lot of “FOMO trading” which would send the NASDAQ 100 higher.
Ultimately, I have no interest in shorting the NASDAQ 100, which of course is always a very dangerous thing to do outside of a short-term trade. I do believe that by the end of October, we probably will clear the 25,000 level, and perhaps even go higher. The question of course is whether or not we get a short-term pullback, or if we get some type of bigger pullback before we get there?
Ready to trade our monthly forecast? We’ve made this stocks brokers list for you to check out.