Dow Jones 30
The Dow Jones 30 fell significantly during the trading session on Thursday, breaking through a major uptrend line at one point during the afternoon, as we continue to see a lot of noise in this market. I think that people were worried about the jobs number, because of it comes out to strong, that could send interest rates much higher in the United States, putting downward pressure on stock markets. The Dow Jones 30 would have to break above the 24,000 level to show a significant rally at this point, so I would be cautious about putting too much money into this market. However, if we make a fresh, new low, it’s time to start selling drastically.
Dow Jones 30 and NASDAQ Index Video 04.05.18
NASDAQ 100
The NASDAQ 100 also fell, slicing through the 6600 level. There is a certain amount of support near the 6500-level underneath, and of course the uptrend line. If we can break above the 6600 level, that could be a very bullish sign, and I think we could go to the 6700 level. If we break down through the uptrend line, the market should go much lower, perhaps reaching down to the 6400 level. After that, we would probably accelerate to the downside as we continue to see sellers panic on higher interest rates. Expect volatility, but I think the jobs number is starting to take center stage yet again.