Dow Jones 30 and NASDAQ 100 Price Forecast July 7, 2017, Technical Analysis

Dow Jones 30

The Dow Jones 30 went sideways initially, but then fell significantly to reach down towards the 21,400 level and below. Ultimately, I believe that the market will rally though, and I also recognize that the 21,250 level under there is massively supportive. If we can break above the 21,500 level, the market will continue to go even higher. This is a market that is highly sensitive to jobs, and the Nonfarm Payroll announcement coming out today can bring in a lot of momentum for this market if things are good. Ultimately, the Dow Jones 30 is highly sensitive due to the fact that it is so heavily laden with industrial companies. Ultimately, this is a market that I think will continue to be bullish, and a break to the upside should send this market much higher.

Dow Jones 30 and NASDAQ Index Video 07.7.17

NASDAQ 100

The NASDAQ 100 fell significantly during the day, reaching down towards the 5675 handle, but found enough support to turn things around. The market should then go to the 5700 level if we get any type of bullish pressure. The market will course react to jobs numbers, and if they are good I think that the NASDAQ 100 will probably go higher. However, there will be a lot of people treating back and forth based upon interest rate expectations, as well as employment. Because of this, it’s probably best to step away from the NASDAQ 100 today, and wait for some type of daily close to make a decision as to how to trade this market. I believe that the markets will be very difficult to deal with during the session, but perhaps clarity will bring itself into the picture by the time the markets close for the week.