Nasdaq Forecast Today 06/02: Holding Support (Chart)

(MENAFN- Daily Forex)

• In my daily analysis of US indices, the nasdaq 100 is always the first place I checked.
• This is mainly due to the fact that it has a major influence on the overall risk appetite of equities traders, so therefore as the NASDAQ 100 goes, quite often you will see the rest of equities and other markets go.
• It is worth noting that the market has recently seen a lot of back-and-forth consolidation and now that the market has carved out a bit of a range, I am paying close attention to how it behaves.

The market has been digesting for some time, as we had previously seen such a massive move higher. All things being equal, this is a market that I think is currently watching the 21,000 level underneath as support, with the 22,000 level above offering resistance. If we can break above the 22,000 level, then it would obviously be a very bullish sign. At point in time, I would anticipate that the NASDAQ 100 enters the“next leg higher.”Technical Analysis

Top Forex Brokers1 Get Started 74% of retail CFD accounts lose money

The technical analysis for this pair is somewhat sideways over the last couple of weeks, but over the longer term, it is obvious that the NASDAQ 100 has been very bullish, and it will more likely than not continue to be so. With that being the case, I like the idea of looking at this through the prism of buying each and every dip I can, recognizing that it might be a bit noisy in the short term. However, given enough time I anticipate that we will probably continue to see market participants jump into this index every time they can. After all, there has been a ridiculous amount of selling reaction to the DeepSeek fiasco, and of course all of the tariff noise. At the end of the day though, markets are starting to turn things around and look to the upside as demand for technology is going to continue to strengthen, not falter. I am bullish given enough time.

EURUSD Chart by TradingView

Ready to trade our stock market forecast and analysis? Here are the best CFD stocks brokers to choose from.

MENAFN06022025000131011023ID1109177794