Dow Jones 30 and NASDAQ 100 Price Forecast – US stock markets mixed during session

Dow Jones 30

The Dow Jones 30 initially spiked higher after the ECB announced its tepid pullback from quantitative easing. However, we have rolled over since then and I think at this point we are simply continuing the overall consolidation that we have been in. The 25,000 level underneath should be massive support, and I think at this point it’s only a matter of time before we reach towards the 25,400 level. If we can break above there, the market should then go to the 25,500 level. If we do break down below the 25,000 level, the market will probably go to 24,800.

NASDAQ 100

With the NASDAQ 100, it was a completely different situation as we broke out to the upside, reaching towards the 7280 level. It’s likely that the market will continue to find buyers on dips, with the 7200 level being massive support. I think that eventually we will break above the 7300 level, and then go to the 7500 level. I think it’s only a matter of time before the buyers continue to take off and reach towards the upside, so therefore I have no interest in shorting. It’s either a situation where we are buying dips, or buying fresh, new highs. Keep your position size somewhat small though and only add as the market works in your favor.

Dow Jones 30 and NASDAQ Index Video 15.06.18