Dow Jones 30 and NASDAQ 100 Forecast May 1, 2017, Technical Analysis

Dow Jones 30

The Dow Jones 30 did very little during the Friday session as we continue to hover just below the 21,000 level. If we can break above the top of the shooting star from the Wednesday session, then the market should go much higher. A pullback from here should find plenty of support below at the 50-day exponential moving average, pictured in red on the chart. I have no interest in shorting, I believe that this market is a very bullish still.

Dow Jones 30 and NASDAQ Index Video 01.5.17

NASDAQ 100

The NASDAQ 100 and very little during the day on Friday as well, but the 5600 level looks as if it is offering resistance. That resistance should send the market lower, perhaps looking for more value below to get longer-term traders involved. I have no interest in shorting, and I look at the value as a nice buying opportunity.