Dow Jones 30 and NASDAQ 100 traders continue to knock about on Wednesday

Dow Jones 30

The Dow Jones 30 has pulled back a bit during the trading session on Wednesday, reaching towards the 24,100 level. We bounce from there and reach towards the 24,300 level after that. I believe that if the trade tensions between the United States and China can calm down, that should continue to push the US stock markets higher, at least in the short term. I believe that the Dow Jones 30 will eventually reach towards the 25,000 level. That’s a bit of a longer-term target, but I think that the volatility will continue to offer plenty of trading opportunities going forward. Keep your position size small and add once the market proves itself.

NASDAQ 100

The NASDAQ 100 has gone sideways initially during the trading session on Wednesday, reaching down towards the 6550 level only to find buyers underneath. The 6500 level should offer plenty of support as well, and the fact that we continue to see markets looking for a reason to go higher tells me that eventually they will find them. If the trade tariffs situation calms down a bit, it’s likely that the NASDAQ 100 will continue to find higher levels, perhaps reaching towards the 6700 level above. If we can break above there, then the market goes to the 6800 level. Ultimately, I think the “floor” in the market is somewhere closer to the 6300-level underneath, which is where I believe that the trend would change if we break down below it.

Dow Jones 30 and NASDAQ Index Video 12.04.18