Dow Jones 30 and NASDAQ 100 Price Forecast February 15, 2018, Technical Analysis

Dow Jones 30

The Dow Jones 30 went sideways initially during the trading session on Wednesday, but then pulled back to reach towards the 24,400 level. That’s an area that should continue to offer support, and I believe that the market looks likely to test the 25,000 handle again. If we can break above the 25,000 level, the market can continue to go much higher, and that is my thesis overall. I think that short-term pullbacks will be an opportunity to pick up the Dow Jones 30 with value, and I think it’s something that is likely to happen as we will need to build up momentum to finally break above the 25,000 handle.

NASDAQ 100

The NASDAQ 100 was noisy as well, as we went sideways, and then pulled back to reach towards the 6500 level. That’s an area that should be supportive, and in fact it is. The market looks ready to grind much higher, perhaps reaching towards the 6700 level above. If we can clear that area, it’s likely that the market would go to the 7000 handle, an area that has been psychologically important. Ultimately, I believe in buying on dips, as the 6500 level should offer support, as it has offered resistance in the past. Longer-term, I believe that we are going to go looking towards 7000, but it will be noisy on the way up. The volatility should continue, but I think it will also offer plenty of opportunity if you are careful and patient enough.

Dow Jones 30 and NASDAQ Index Video 15.02.18