Dow Jones 30
The Dow Jones 30 exploded during the trading session on Thursday, slicing through the 25,000 handle. This is a major milestone, and I believe that it should continue to attract a lot of attention. Pullbacks at this point should be buying opportunities, and quite frankly if we get some type of negativity out of the jobs number, that would be an excellent buying opportunity from what I see. Algorithmic traders continue to be a major lifting force of the market as well, so I don’t have any interest in shorting and I believe that regardless what happens, the buyers are probably going to continue to be very active.
Dow Jones 30 and NASDAQ Index Video 05.01.18
NASDAQ 100
The NASDAQ 100 went sideways with a slightly upward tilt, but I think Reagan above the 6600 level is vital. We will eventually go higher, we are still within the up-trending channel. However, I expect a lot of volatility here, with the 6500 level being the “floor.” In general, I believe that short-term pullbacks offer value the people will take advantage of, but the NASDAQ 100 seems to be very hesitant to explode the way the other indices have. In general, I am positive the NASDAQ 100, but I also recognize that there’s a lot more momentum to take advantage of in both the S&P 500 and the Dow Jones 30. Selling is all but impossible when it comes to the US stock markets.
