Dow Jones 30 and NASDAQ 100 Price Forecast August 10, 2017, Technical Analysis

Dow Jones 30

The Dow Jones 30 went sideways during the session on Wednesday, hugging the 22,000 level after gapping lower. This is a market that looks to be well supported just below though, so I am a buyer on these dips. I think we will go to the 22,150 level above, and a lot of the negativity is due to the noise coming out of the Korean peninsula. That will fade, and once it does the market will continue the move to the upside. If we break down below the 21,900 level, then I think we could have more momentum to the downside, but I don’t see that happening.

Dow Jones 30 and NASDAQ Index Video 10.8.17

NASDAQ 100

The NASDAQ 100 initially gapped lower and then fell significantly. However, we found enough support at the 5850-level underneath. We bounced enough to fill the gap, and it now looks as if are going to continue to climb. I believe that the NASDAQ 100 continues to find plenty of buyers, as we have a bullish overtone to the market, and of course we continue to see algorithmic traders jump into the market and lifted as the robots are pushing the markets back and forth in a grind sideways.