NASDAQ 100 and Dow Jones 30 Forecast February 22, 2017, Technical Analysis

NASDAQ 100

The NASDAQ 100 tried to rally during the day on Tuesday but ran out of steam at the 5350 handle. Quite frankly, I think this is healthy and I’m simply going to wait for a pull back to show signs of support underneath that I can serve buying. The NASDAQ 100 is overextended by just about any metric, so I think that this will represent a value play over the next couple of sessions.

NASDAQ100 and Dow Jones 30 Video 22.2.17

Watch our NASDAQ 100 and Dow Jones 30 Video Forecast:

Dow Jones 30

The Dow Jones 30 broke higher during the day on Tuesday, showing signs of making yet another fresh, new high. I believe that a pullback could be coming though, simply because the NASDAQ 100 will probably pull things down a little bit. I believe there’s plenty of support at the 20,500 level though, so as long as we can stay above there, I’m a buyer of dips.