- The NASDAQ price continues to reach new All Time Highs with the 15637 mark recently reached.
- US100 index is now almost 1.5% up over just two sessions
- Inflation concerns and international situation have been roundly shrugged off by investors
The NASDAQ price is on a roll and there’s no doubt about that. It is currently trading at the 15640 mark which means another session that continues markedly positive. It is looking increasingly likely that the ground breaking 16000 mark is not too far off with the tech stocks that make up the NASDAQ continuing to boom in price.
It also seems that concerns regarding the Covid19 situation in several states have been largely shrugged off by investors. The same goes for the international situation with the Afghanistan withdrawal by the US and the shift to a more diplomatic foreign policy also being welcomed by investors.
Another development which has had a positive impact on the NASDAQ price is more policy bound. Fed Chair Jerome Powell’s announcement last week that economic benefits put in place to counter the Covid19 situation will soon start tapering off set off a wild market rally that shows no signs of stopping soon.
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Short Term Prediction For NASDAQ price: More Upside And ATH’s Expected
The NASDAQ price is expected to continue rising in the short term. It has had quite an impressive run so far this summer. In fact, the US100 has risen from a low of 14639 on July 20 to the 15637 mark, a whopping 8% increase in just over a month that is quite remarkable for an index.
If the bullish trend were to continue then we should expect the 16000 level to be reached at least by mid-September. Of course, there could be some minor pitfalls on the way if investors decide to book some profits, but that does not look very likely at this point.
Although a bearish scenario always has to be taken into account, this again does not seem about to happen. Investors have largely priced in Covid19 concerns, the tapering of economic benefits and the international turmoil. A short period of retracement could happen but again, this is highly unlikely.
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Long Term Prediction For US100: Onwards And Upwards To New Highs
As the economy continues to re-open and other concerns recede into the background, it looks likely that the NASDAQ price will continue to appreciate. Some analysts have the US100 tagging the 18000 level by the end of the year although that is rather optimistic given that there still are some concerns on the inflationary front.
A more sober prediction would be the 17000 level by the end of the year which would still be a massive 20% increase from January 2021. Demand for tech stocks continues to be very strong and this will continue to be reflected in the NASDAQ’s performance.
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