Dow Jones 30 and NASDAQ 100 Forecast for the Week of September 4, 2017, Technical Analysis

Dow Jones 30

The Dow Jones 30 initially fell during the week but found enough support underneath to turn around and form a very bullish candle. Breaking above the 22,000 level is a very bullish sign, and I think that we will eventually continue to go much higher. I think that short-term buying opportunities are available every time we dip, and I believe that given enough time the lack of interest rates in the United States should continue to lift stock markets overall. A breakdown below the 21,500 level would be very negative, but right now I don’t see that happening, and I believe that the buyers are firmly in control. My next target is the 23,000 level above.

Dow Jones 30 and NASDAQ Index Video 04.9.17

NASDAQ 100

The NASDAQ 100 initially fell during the week but found enough support from the trend line that I have marked on the chart. We have broken towards the 6000 level, but that, of course, offered resistance. However, this very bullish candle suggests that we are going to continue to go to the upside, and now I believe that the 6100-level course is a visible target. The 5700 level underneath below is massively supportive, and if we can stay above there, I don’t see the reason to sell this market. Even if we do break down below there, the market will probably find support at the 5500 level. Expect choppiness and volatility, but the NASDAQ 100 has been a leader of US stock indices as of late, and that being the case I believe that it’s only a matter of time before the buyers return on dips as they offer value. While the market is a bit extended, there seems to be no sign of bearish pressure.