Dow Jones 30 and NASDAQ 100 Price Forecast January 4, 2018, Technical Analysis

Dow Jones 30

The Dow Jones 30 rallied significantly during the trading session on Wednesday, but found enough resistance at the 24,900 level to roll over and show signs of negativity. There is plenty of support below though, and I think that if we can drop from here, we will probably go down to the 24,750 level. I think that eventually; the buyers will get involved and reach towards the 25,000 handle. Ultimately, this is a market that is bullish, and I think it will continue to be so, but we have the jobs number coming out on Friday and that will have a massive influence on this market.

Dow Jones 30 and NASDAQ Index Video 03.01.18

NASDAQ 100

The NASDAQ 100 went sideways during most of the session on Wednesday, but by clearing the 6500 level during the previous session, the market was free to go higher, which is exactly what we saw next. The market reach towards the 6560 handle, an area that has very little in the way of importance, so I think that when we pull back from here, there will be plenty of buyers underneath getting involved. I think that the 6500-level underneath should be massively supportive, and I would be a buyer on pullbacks to that area. If we break out to the upside, the market should then go to the 6600 level. We are in a longer-term uptrend, and I think that should continue going forward.