Dow Jones 30 and NASDAQ 100 rally to find resistance

Dow Jones 30

The Dow Jones 30 rallied and break above the significant 25,000 level during the trading session on Monday but has pulled back a bit. I think that if the market can continue to find buyers underneath, we will eventually break out to the upside and use the 25,000 level as support. As I record this, that seems to be very likely, and I think that the markets will eventually go much higher. Obviously, the 25,000 level is a psychologically and structurally important, but I think it’s only a matter of time before we go higher as US and Chinese trade tensions are starting to calm down.

NASDAQ 100

The NASDAQ 100 rallied right off the bat as well, but found resistance at the 6950 level again, and then break down below the 6900 level. I think that the NASDAQ 100 will find buyers though, and the 6850 level looks to be holding at support as I record this. Even if it doesn’t, the 6800 level is even more supportive. I believe that we are going to go looking towards the 7000-handle bone, which is a major round number and of course has shown itself as resistance recently. If we were to break down below the 6760 handle, then I think the market could break down a bit, but right now that doesn’t look very likely. I believe that we are simply trying to build up enough momentum to finally go higher and leave the 7000 level in the rearview mirror.

Dow Jones 30 and NASDAQ Index Video 22.05.18