U.S NASDAQ Stock Index

**PCMNewsdesk** · 07-07-2016, 12:32 AM

The NASDAQ is in a similar position to the S&P. The 4179.74 low on Monday (Jun. 27) in the 100 index is the start of a rally that will eventually carry prices well above the April 19 high (4574.38). Wave i (circle) made a high at 4453.86 on July 1. Wave ii (circle) either ended at 4375.72, this morning’s low, or it will do so with another decline in the coming day or so. If there is another wave down, potential support areas are 4349-4359 and 4317. If this morning’s low marks the end of wave ii (circle), the index should be strongly higher tomorrow and continue a persistent rally well into next week. A break of 4179.74, the June 27 low, would negate the bullish case.

**PCMNewsdesk** · 07-09-2016, 12:40 PM

The NASDAQ 100 index continues to press higher in conjunction with the rally in the blue-chip Dow and S&P. While the index is much farther from its 4739.75 high on December 2, 2015 than both the Dow and S&P are from their May 2015 highs, the current trend for the NASDAQ is bullish. Today’s 4529.72 high carries the index back to the April 6 high. Eventually, the NASDAQ should work above 4574.38, the wave 1 high on April 19. A near-term pullback will find support at near 4450.00.

**PCMNewsdesk** · 07-12-2016, 05:07 AM

The NASDAQ 100 index may decline near term too, but unless the index closes below 4450, any short term selling pressure should be a pullback within a larger advance.

**PCMNewsdesk** · 07-14-2016, 08:22 AM

The NASDAQ 100 index is notably far behind the Dow and S&P in terms of reaching new highs, but the short term wave structure is the same. That is, the rally that started at 4179.74 on June 27 should trace out five waves. There are only three waves so far, which means the wave structure of the advance is not complete. A pullback is probable over the near term, but it should then lead to another wave up that carries toward 4650 or higher. As long as the pullback does not close below 4450, the NASDAQ’s bullish potential will remain intact.

**PCMNewsdesk** · 07-16-2016, 11:13 AM

Short term, the NASDAQ 100 index remains in a similar position to the Dow and S&P. A near term decline should be a pullback within a rally that has yet to end. A wide support range exists at 4491-4553, which should contain the pullback. A decline below 4450 would require a change in the wave structure and the near term forecast.

**PCMNewsdesk** · 07-19-2016, 06:03 AM

The NASDAQ indexes were far stronger than the Dow and S&P today, with the NASDAQ 100 carrying to 4627.57, a new rally high. Here, too, the larger trend remains higher but the index is at increased risk for a near term pullback. Support is now 4528-4566. Eventually, the index should carry above 4740.