Dow Jones 30 and NASDAQ 100 Price Forecast March 22, 2018, Technical Analysis

Dow Jones 30

The Dow Jones 30 initially pulled back during the trading session on Wednesday but found enough support near the 24,650 level to turn around. I think that we need to see what the next 24-hour move is before putting serious money to work. While it’s difficult to imagine how the market will react to the statement, I suspect that if you pay attention to specific levels, that’s the best way to trade. With that, I believe that a break above the 25,050 level is reason enough to start buying the Dow Jones 30, just as a break below the 24,500 level would be a reason to sell.

Dow Jones 30 and NASDAQ Index Video 22.03.18

NASDAQ 100

The NASDAQ 100 went back and forth during the trading session as well, as the markets have waited for the Federal Reserve statement and press conference, giving us an idea as to how many interest rate hikes we get this year, be it 3 or 4. I think that if the market breaks higher, we will find a lot of resistance at the 7000 handle. This would be based upon 3 interest rate hikes this year, not 4. Alternately, if we break down below the 6800 level, I think the market will probably go looking towards the 6700 level. This is going to be a very difficult and violent market, so this point I think you are probably better off to see where we close at the end of the day before putting money to work.