Dow Jones 30 and NASDAQ 100 Price Forecast January 26, 2018, Technical Analysis

Dow Jones 30

The Dow Jones 30 has initially rallied during the day on Thursday, but then pulled back. As the Americans stepped on board, the CFD market rallied to a fresh, new high again. The market looks like one that you can buy every time you pull back, and I think that we are going to continue to see “buy on the dips” types of moves, and with this being the case it’s likely that if you are patient enough, you should find value. The 26,000-level underneath should offer a bit of a “floor” for short-term traders.

NASDAQ 100

The NASDAQ 100 initially rallied as well, fell rather hard, but has since recovered as the 6900 level has offered support. I believe that the market is going to go looking towards the $7000 level above, which of course will offer a bit of psychological resistance. If we can clear that area, then the market is ready to go much higher as the psychological resistance will be taken out. I believe that the market then eventually will go looking towards the 7100 level. I think that the 6800 level below is even more supportive, so short-term pullback should be buying opportunities. The market participants continue to follow the algorithmic traders, simply buying this market every time it dips with any significance. I believe that the NASDAQ 100 continues to lead the rest of the US indices higher.

Dow Jones 30 and NASDAQ Index Video 26.01.18