Dow Jones 30 and NASDAQ 100 Price Forecast March 1, 2018, Technical Analysis

Dow Jones 30

The Dow Jones 30 did very little during the trading session on Wednesday, as we continue to bounce around just below the 25,500 level. I think that the market will continue to be very noisy, but I also recognize that the 25,000-level underneath should be massive support. If we were to break down below there, that would be a very negative sign, but at this point I believe that the buyers are looking at these markets as offering value on a pullback. I also recognize that the stock markets have recovered quite nicely from the knee-jerk reaction after Jerome Powell suggested that the Federal Reserve was going to continue to raise interest rates. Ultimately, I believe that we are in a long-term uptrend, and that should continue.

NASDAQ 100

The NASDAQ 100 has gone sideways overall as well, as we continue to struggle just below the important 7000 handle. That’s an area that has a certain amount of psychological importance built in, as well as structural due to the most recent resistance. I believe that given enough time, we should break through this area, and it should free the market to go much higher, perhaps reaching towards 7100 next, and that eventually 7250. I don’t have any interest in shorting this market, I believe there is more than enough support near the 6700-level underneath to keep the market afloat, and certainly it looks as if stock markets overall are doing fairly well. Remember, US indices tend to move in the same direction, so watch the other ones, as they can give us a heads up here in the NASDAQ 100.

Dow Jones 30 and NASDAQ Index Video 01.03.18