Dow Jones 30 and NASDAQ 100 Forecast August 8, 2017, Technical Analysis

Dow Jones 30

The Dow Jones 30 started out the day a bit soft, but I believe that there should be a significant amount of support near the 22,000 level below. Because of this, I think it’s good to be a relatively quiet session on Monday, followed by support on Tuesday. I think a bounce is probably going to be coming closer to the 22,000 level, thereby offering longer-term traders an opportunity to get involved as well as short-term traders. I don’t have any interest in shorting the Dow Jones 30 at the moment, as I think that the market continues to look positive.

Dow Jones 30 and NASDAQ Index Video 08.8.17

NASDAQ 100

The NASDAQ 100 continues to show resiliency, and I believe it will continue to lead US indices higher overall. A break above the 5925 level is bullish, and I believe has the market then looking towards the 6000 handle above. I believe in buying short-term dips as they offer value in a market that has shown such strength.