Dow Jones 30 and NASDAQ 100 Price Forecast January 9, 2018, Technical Analysis

Dow Jones 30

The Dow Jones 30 drifted lower during the trading session on Monday, reaching towards the 25,250 level. The market looks likely to see buyers getting involved in this market, with the 25,000 level being the “floor” in the market. I don’t have any interest in trying to short this market between here and there, so the lower we go, the more likely I am to be attracted to a bounce or supportive candle to take advantage of. This will be especially true if the greenback starts to fall, which seems to be the main driver of concerns during the Monday session.

Dow Jones 30 and NASDAQ Index Video 09.01.18

NASDAQ 100

The NASDAQ 100 went sideways initially during the Monday session as well, pulling back slightly towards the 6650 handle, before bouncing. This is a bit interesting, as the NASDAQ 100 is the only one of the 3 major indices that we follow showing signs of strength during the day. Ultimately though, the market looks likely to continue the overall uptrend, and that’s not only here, but US stock indices in general. I think that the market will go looking towards the 7000 level sometime this year, but keep in mind that the NASDAQ 100 has been a bit of a laggard, and I think that could continue to be the case going forward. Buying on the dips continues to be the way I like to play US stock indices, with the NASDAQ 100 being no different.