Dow Jones 30 and NASDAQ 100 Price Forecast January 12, 2018, Technical Analysis

Dow Jones 30

The Dow Jones 30 went sideways during the trading session on Thursday, and then broke out to a fresh, new high. By doing so, the 25,450 level now should offer a bit of support, and I think that we are now going to go looking towards the 25,600 level after we break above the 26,500 level. The stock markets in America very bullish, and it looks likely that every time we pull back, there will be algorithmic traders jumping into the marketplace and take advantage of any hint of value. Money managers are back from the holidays, and they are most certainly throwing money at the market.

Dow Jones 30 and NASDAQ Index Video 12.01.18

NASDAQ 100

The NASDAQ 100 has drifted a bit higher during the trading session, breaking above the 6650 level, and it looks likely that we are going to go to the 6700 level again, an area that has been resistive in the past. I think that if we can break above there, the market should continue to go much higher, perhaps reaching towards the 6800 level after that. I think that the market should continue to be very choppy, and it may be a bit of a laggard when it comes to the US markets, but overall, I think that the NASDAQ 100 is a “buy on the dips” scenario just like the other ones are. I have no interest in shorting the US stock market, and the NASDAQ 100 is no different.