Dow Jones 30 and NASDAQ 100 traders rally slightly on Tuesday

Dow Jones 30

The Dow Jones 30 rallied a bit during the trading session on Tuesday, as traders picked up a little bit of risk. However, we have the jobs number coming out of Friday, so it’s difficult to imagine that we will see much in the way of a major move in less we get news coming out of the trade war front. I think that the concerns about a potential trade war continue to be on the forefront of trading psychology, so headline’s will course move this market in both directions. The more likely we are to see a trade war, the lower this market goes. However, if we get a good jobs number we may get a nice snap to the upside. I anticipate that you are probably best off leaving the Dow Jones 30 alone.

NASDAQ 100

The NASDAQ 100 certainly looks negative, so I think that if there’s a trade to be had in the meantime, it’s likely that shorting the NASDAQ hundred would be the place to go. The 6500 level above is resistance, so I think that breaking down from here makes a bit of sense, perhaps reaching towards the 6300 level. A breakdown below there could send this market down to the 6000 handle as well. I think that the 6600 level above being broken is a buying opportunity but seems to be unlikely until we get the jobs number on Friday. The attitude of this market continues to be very skittish to say the least.

Dow Jones 30 and NASDAQ Index Video 04.04.18