Dow Jones 30 and NASDAQ 100 Price Forecast June 6, 2017, Technical Analysis

Dow Jones 30

The Dow Jones 30 did very little during the day on Monday, but I still remain very bullish of this market as sitting at these high levels comfortably suggests that the market is going to eventually go higher. Pullbacks continue to be buying opportunities, and I believe that the Dow Jones 30 will continue right along with the other US indices to go looking for higher levels. The 22,000 level above will be the first target, and then I think eventually we go looking for the 25,000 level. Obviously, this of the longer-term call but I believe that the buyers are still firmly in control this market and therefore buying dips will continue to be the best way to play when I think is a longer-term secular bull market.

Dow Jones 30 and NASDAQ Index Video 06.6.17

NASDAQ 100

The NASDAQ 100 went sideways during the session on Monday as well, and seems to be very comfortable at the extreme highs. The fact that we rallied on Friday so strongly and then just simply went sideways tells me that there is plenty of support underneath, and that pullbacks should be buying opportunities. I believe that the market should continue to be very bullish on the longer-term charts, as the NASDAQ 100 continues to lead the way for other US indices, and by extension the world. I believe the technology stocks will continue to do very well, and that being the case it’s likely that the NASDAQ 100 will of course benefit from that. I think we are reaching towards the 6000 level given enough time, and perhaps even beyond that. Pullbacks offer value that I’m willing to take advantage of, and selling is all but impossible thought at this point in time.