Dow Jones 30 and NASDAQ 100 Price Forecast March 5, 2018, Technical Analysis

Dow Jones 30

The Dow Jones 30 fell during the trading session on Friday, as the tariffs have people concerned around the world as to whether we will enter a trade war. The Europeans have already suggested that they have a list of things that will had tariffs to, so this is a situation that could escalate. If that’s the case, stock market traders will want nothing to do with taking risk at that point, and it makes sense that bonds would start to pick up. This is a bit of a “double whammy”, so at this point I think that the sellers are going to continue to push.

NASDAQ 100

The NASDAQ 100 also fell during the session on Friday, but then bounced significantly from the 6650 handle, before rolling right back over. The volatility continues, and I think that most traders are willing to get out of this market and simply sit on the sidelines. This as downward pressure as people take profits from the nice uptrend that we have enjoyed. I don’t think that we are going to collapse at this point, but certainly there is a significant amount of downward pressure and most certainly a significant amount of risk out there. Because of this, I’m willing to stand on the sidelines and wait for an opportunity to start going long, something that I don’t think we have quite yet. Stay tuned, I will let you know what’s going on in my portfolio here at FX Empire.

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