Dow Jones 30 and NASDAQ 100 find support during the week

Dow Jones 30

The Dow Jones 30 has pulled back a bit during the week, only to turn around and form a hammer as we bounced from the uptrend line. The market looks likely to continue going higher, and I think at this point we will probably test the 25,000 level. If we can break above that level, the market is likely to continue going higher. Ultimately, this uptrend line is very supportive, and if we break down through it, we could go to the 23,000-level underneath. A breakdown below there could send this market to the uptrend line. Longer-term, the market has seen in a bullish pressure to convince me that we will eventually go higher, as earnings season has been decent for American companies.

NASDAQ 100

The NASDAQ 100 has not back and forth during the course of the week but found enough support at the uptrend line to turn around and form a hammer. The hammer of course is a bullish sign, but it is preceded by a shooting star. The market breaking the top of the shooting star from the previous week of course is a bullish sign and could release this market towards the 7000 level above. A breakdown below the uptrend line at the bottom of the hammer, that could send the market down to the 6200 level. Interest rates falling in the United States of course are starting to help stocks as well.

Dow Jones 30 and NASDAQ Index Video 30.04.18