Dow Jones 30 and NASDAQ 100 both show signs of strength during the week

Dow Jones 30

The Dow Jones 30 rallied during the week, reaching towards the 25,000 level during the week, an area that of course will attract a lot of attention. However, unlike the last several weeks, we have seen the market close higher in the range, and it looks likely that we could continue to go higher. If we can break above the 25,000 handle, the market probably then goes looking towards much higher levels, perhaps even a fresh, new high given enough time. The uptrend line underneath has held as support, with the hammer from the previous 2 weeks of course suggesting just how much support there is underneath.

NASDAQ 100

The NASDAQ 100 has rallied as well, reaching towards the 7000 level above, an area that has been resistance more than once. We had previously formed a shooting star on the weekly chart test above that level, so it shows just how much there is in the way of resistance here. However, US stock markets in general all look as if they are testing significant resistance, and if we can break above that level, the market should continue to go higher. At that point, I think fresh money will come back into the marketplace and could continue to reach towards the 8000 level above. 6500 underneath should continue to offer a bit of a “floor” in this market. We also have the uptrend line which of course is very bullish.

Dow Jones 30 and NASDAQ Index Video 14.05.18