Dow Jones 30 and NASDAQ 100 both fall on Wednesday

Dow Jones 30

The Dow Jones 30 fell again during the day on Wednesday, reaching towards the 24,600 level. The level has been supported previously, and I think that the fact that we bounce from there isn’t much of a huge surprise, especially considering that a lot of the reaction would have been to comments coming from Donald Trump about the potential trade talks between the United States and China, and of course the North Koreans. Quite frankly, I think this is an overreaction and I believe that value hunters are already starting to jump back into this market. I like buying these dips, but if we break down below the 24,600 level, I would probably give the market another day or so before I got involved. If we can break above 24,800, then I think we will make another attempt at 25,000 above.

NASDAQ 100

The NASDAQ 100 also fell during the day, but unlike the Dow Jones 30, it has already recovered most of the losses. This tells me that there is a lot of underlying bullish pressure in this market, and that I think that the value hunters will continue to jump into this market. I think 6800 has shown itself to be massive support, and I believe that we will eventually make a move towards the 7000 level above, which of course is psychologically important. A break above that level allows this market to go much higher.

Dow Jones 30 and NASDAQ Index Video 24.05.18