NASDAQ 100 Forecast April 29, 2016, Technical Analysis

The NASDAQ 100 initially fell during the course of the session on Thursday, but found enough support at the 4400 level to turn things around and form a bit of a hammer. Having said that, it looks as if the market is going to continue to try to rally, and a break above the top of the hammer should be reason enough to think that the market will reach towards the 4560 handle. Ultimately, this market should continue to grind higher, and as a result we are bullish of this market going forward, having no interest whatsoever in selling.