Dow Jones 30 and NASDAQ 100 Forecast for the Week of August 21, 2017, Technical Analysis

Dow Jones 30

The Dow Jones 30 had a volatile week, as we broke above the 22,000 level, but then turned around to form a somewhat neutral candle. This is a market that needs to pull back to pick up a little bit of bullish pressure, perhaps near the 21,500 level. If we can break above the top of the range for the week, the market should be willing to go even higher. However, we are bit over exerted.

Dow Jones 30 and NASDAQ Index Video 21.8.17

NASDAQ 100

The NASDAQ 100 also was very choppy, as the 5900 level above offered far too much in the way of resistance. However, it looks as if we are starting to find some interest in the market, so I think we could go higher, and a break above the top of the candle should finally free this market to go towards the 6000 handle. If we do break down below the 5700 level, the market will probably go to the 5500-level next.