US stock markets drift a bit lower during the Thursday session

Dow Jones 30

The Dow Jones 30 pulled back slightly during the trading session on Thursday, reaching down towards the 24,600 level. That’s an area that has previously been resistive, so now it looks likely to be a support level just waiting to happen. I think that the market will continue to do well longer-term, as corporate earnings have been decent. I also believe that the market continuing to go higher based upon a “risk on” attitude could be what we see. I think that a breakdown from here has plenty of support down to at least the 24,300 level.

NASDAQ 100

The NASDAQ 100 rolled over during the trading session on Thursday, reaching down towards the 6750 level. I think there’s more support at the 6700 level, so I think it’s probably going to go little bit lower before we see buyers jumping into the market taken advantage of value. That area was a massive resistance barrier, so I think that the market will find buyers. Keep in mind that the situation between the United States and China continues to drive the NASDAQ 100 as well, as the likelihood of trade tariffs affecting technologically bound companies makes a lot of sense. This of course could cause a lot of issues, especially in this area. I think that the NASDAQ 100 will more than likely lead the other indices in the United States higher once it finally starts bouncing. Ultimately, I am bullish, but I recognize that caution is necessary.

Dow Jones 30 and NASDAQ Index Video 20.04.18