Dow Jones 30 and NASDAQ 100 Price Forecast March 23, 2018, Technical Analysis

Dow Jones 30

The Dow Jones 30 broke down significantly during trading on Thursday, reaching towards the 24,300 level. With a trade war seeming almost a given at this point, it’s likely that we will continue to see bearish pressure. I think that the markets will continue to live in fear, as the trade war between the United States and China would be very negative indeed. I think at this point, it’s unlikely that rallies will have any significant momentum behind them, unless we get some type of reconciliation between the US and China. Until then, I think rallies will offer selling opportunities. A breakdown below the 24,000 level should be a very negative sign.

Dow Jones 30 and NASDAQ Index Video 23.03.18

NASDAQ 100

The NASDAQ 100 broke down significantly during trading on Thursday, breaking down below to reach the 6750 level as I record this. The 6700-level underneath is even more supportive, but a breakdown below there would be very negative and could send this market down to the 6500 level. Ultimately, I think that rallies are to be sold until we get some type of solution to these looming trade issues. If we do, that should be very bullish, and could send the market much higher, but as we have broken down through major support level is already, I suspect that we are going to see more bearish pressure. I tend to sell rallies on signs of exhaustion for the next couple of sessions, and at least until we get some type of stability with the geopolitical situation.