NASDAQ 100 and Dow Jones 30 Forecast February 23, 2017, Technical Analysis

NASDAQ 100

The NASDAQ 100 went back and forth during the day on Wednesday, but we are overextended to say the least. The 5350 level is the next psychological barrier, but even if we break above there I’m waiting for a pull back. At this point, I feel that the pullback could be rather vicious, so as people start running, all start looking for buying opportunities at lower levels.

NASDAQ100 and Dow Jones 30 Video 23.2.17

Watch our NASDAQ 100 and Dow Jones 30 Video Forecast:

Dow Jones 30

The Dow Jones 30 rally during the day on Wednesday as well, reaching above the 20,750 level. I believe that there is significant support at the 20,600 level, so I would like to see this market pull back and find it. Much like all the other US indices, it is a bit overbought but pullbacks could bring in more buyers as a lot of people will have missed this rally.