Dow Jones 30 and NASDAQ 100 Price Forecast July 14, 2017, Technical Analysis

Dow Jones 30

The Dow Jones 30 went sideways overall during the day on Thursday, as we dipped to find the 21,500-level underneath. By doing so, looks like the buyers are ready to come back in, as Janet Yellen gives testimony in front of Congress. I think it’s only a matter of time before we break out to the upside, and continue to go much higher. Because of this, I think that the market will continue to be an opportunity to buy the Dow Jones 30 on pullbacks, and that we will eventually reach much higher. I believe the 22,000 level is the current target, and this recent pause in the action is simply the market trying to build up momentum to go higher. Even if we break down below the 21,500 level, I have no interest in shorting the Dow Jones 30.

Dow Jones 30 and NASDAQ Index Video 14.7.17

NASDAQ 100

The NASDAQ 100 went sideways during most of the session on Thursday, just below the 5800 level. If we can break above there, I think that the market continues to go higher, and goes looking for the 5900 level. Ultimately, the market pulling back from here should be a buying opportunity and I think that the 5700-level underneath should be support. The market continues to look very bullish, and I think that longer-term we may even try to reach towards the 6000 handle. The NASDAQ 100 has been a leader of the US stock indices overall, so given enough time I think that we will continue to see this market find reasons to go higher, as technology has lead the way over the last several months. Going forward, I anticipate that buying on the dips will be a viable strategy to play in this market.