• Short-term pullbacks will continue to be potential buying opportunities with the 50-day EMA at the 25,208 level offering support right along with the 25,000 level. I still believe in the Nasdaq 100 going higher, but the holiday will make things quiet for now.
   

Nasdaq 100

The Nasdaq 100 has been a little bit negative in trading on Tuesday, but quite frankly, I don't see much here that tells me anything has changed. You have to pay close attention to the fact that we are heading into the New Year’s holiday. The volume is probably going to be very low, and the conviction just as low.
 

This is a market that I do believe continues to be very bullish, but the last month or two has been somewhat positive in the sense that although we weren't going higher, we weren't really selling off either. With that being the case, I think if we can break above the 26,000 level, that will be the trigger for the Nasdaq 100 to go much higher.
 

Market Outlook for 2026

Short-term pullbacks will continue to be potential buying opportunities with the 50-day EMA at the 25,208 level offering support right along with the 25,000 level. I've got no interest whatsoever in shorting this market and really don't think anything changes until we drop below the 23,250 level. This is something I just don’t see the case for at the moment.

Ultimately, this is a market that I think will continue to see buyers jumping into it and eventually pushing this market closer to the 30,000 level, perhaps sometime during 2026. The artificial intelligence bubble is still rife with discussion, but the reality is that there is still plenty of passive money going into artificial intelligence stocks, and that will, of course, be one of the things that helps the Nasdaq 100 gain.

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