Dow Jones 30 and NASDAQ 100 rally being quiet Monday trading

Dow Jones 30

The Dow Jones 30 rallied slightly during the session on Monday, showing signs of strength, but we do have a bit of noise near the 24,500 level, and that of course the 25,000 level. I think that pullbacks at this point should continue to be buying opportunities, especially considering that the uptrend line has offered support from a few sessions ago. I like the idea of buying dips as they offer value but expect a lot of volatility. The move from both McDonald’s and Apple helped the Dow Jones 30 rally, so I think we should continue to see a lot of buyers.

NASDAQ 100

The NASDAQ 100 rallied slightly during the day but found the 6700-level resistive enough to roll things over. The 6600-level underneath should be supportive, and I think that if we can break above the 6700 level, the market should try to break above the 6750 level, and then eventually the 6850 level. Longer-term, the NASDAQ 100 may struggle a bit, as technology stocks are a bit shaky. However, I still believe in the uptrend, and I think that the market respecting the uptrend line is crucial, so it’s not until we break down below at that I would consider selling. I look at dips as buying opportunities but also recognize that perhaps the Dow Jones 30 or the S&P 500 might be a better way to go.

Dow Jones 30 and NASDAQ Index Video 01.05.18