Dow Jones 30 and NASDAQ 100 Forecast March 22, 2017, Technical Analysis

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Updated: Mar 22, 2017, 04:36 UTC

Dow Jones 30 The Dow Jones 30 initially tried to rally on Tuesday, but found enough resistance above to turn the market around. By forming this negative

Dow Jones 30

The Dow Jones 30 initially tried to rally on Tuesday, but found enough resistance above to turn the market around. By forming this negative candle, we are testing the 50-day exponential moving average. I believe that this market will continue to be very bullish, so a supportive candle or a bounce has me going long. I have no interest in shorting this market anytime soon.

Dow Jones 30 and NASDAQ Index Video 22.3.17

NASDAQ 100

The NASDAQ 100 initially tried to rally during the day on Tuesday, but found enough resistance near the 5440 level to turn things around. I think the given enough time we should see the 20-day exponential moving average, pictured in green, offer dynamic support yet again. I believe that the NASDAQ 100 should reach towards the 5500 level over the longer term.

NASDAQ 100 daily chart, March 22, 2017

About the Author

Christopher Lewisauthor

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.