Dow 30 and NASDAQ 100 Price Forecast March 13, 2018, Technical Analysis

Dow Jones 30

The Dow Jones 30 went sideways initially during the trading session on Monday, but then fell significantly. However, as I record this we are starting to see buyers come back into the marketplace, and I still believe in the “floor” closer to the 25,000 handle. I think eventually we go to the 25,500 level again, and perhaps reach towards the 25,750-level next. I believe that we will continue to be volatile, but in the end, I think there are plenty of buyers out there.

Dow Jones 30 and NASDAQ Index Video 13.03.18

NASDAQ 100

The NASDAQ 100 was a bit more resilient, drifting slightly lower, but then turning around to show signs of resiliency again. In fact, as I record this it looks as if the NASDAQ 100 is trying to make a fresh, new high, which of course is a bullish sign. I believe this will lead the rest of the stock markets and indices around the United States rally. I think that pullbacks should continue to be buying opportunities, with the 7100-level underneath being support. Beyond that, I believe that the 7000 level is the “floor” in the market. Now that we have broken above there, it looks likely that we will continue the longer-term move to the upside. Currently, I have a target of 2750, and perhaps even higher than that. I’ve got no interest in shorting this market, and I believe that we will eventually go looking towards 7500 above, and ultimately, I think that short-term pullbacks offer value that should be taken advantage of.

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