Dow Jones 30 and NASDAQ 100 Price Forecast August 18, 2017, Technical Analysis

Dow Jones 30

The Dow Jones 30 initially went sideways on Thursday, but then sliced decidedly below the 22,000 level. We are approaching a cluster of support though, so it’s not until we break down below the 21,800 level that I would be concerned. A lot of the volatility has been noise coming out of the White House, and at the end of the day that probably doesn’t change much. It’s a very illiquid market currently as most traders are away at vacation, so that tends to exacerbate these moves.

Dow Jones 30 and NASDAQ Index Video 18.8.17

NASDAQ 100

The NASDAQ 100 also fell, slicing through the 5900 level, and reaching towards the 5840 level which is a significant cluster. I think it’s only a matter of time for the buyers get involved though, so I like the idea of buying the dips, but I would wait to see support for a few hours before I would put any money to work. Options might be the way to go as well, as at least it keeps you somewhat protected as your losses are known up front.