US stock markets rally after good jobs number

Dow Jones 30

The Dow Jones 30 rallied significantly during the trading session on Friday, reaching towards the 24,700 level. I think short-term pullbacks should be buying opportunities, as we have formed a “higher low” in the market, and I think that if we can avoid major geopolitical concerns the market should continue to grind its way towards the 25,000 handle. I believe that the market will struggle to get above the 25,000 handle, but eventually we should do so. I think pullbacks continue to be momentum building exercises and should be treated as such. I have no interest in shorting this market, at least not anytime soon.

NASDAQ 100

The NASDAQ 100 rallied significantly during the trading session on Friday, breaking well above the 7000 handle, approaching the 7100 level. By doing so, the market looks likely to continue the upward momentum, especially considering that the jobs number was so strong. I think short-term pullbacks will be nice buying opportunities, especially if we can stay away from geopolitical trouble. I think the 7000 handle underneath should end up being supportive, and I think that the level should be a “floor” in the market. Longer-term, I believe that the market is going to the 7200 level. I like the idea of buying the dips as they occur, and I think that given enough time we should find reasons enough to go higher. Longer-term, I believe that the uptrend continues, so look for value on these dips if you get an opportunity. Expect volatility, but longer-term I believe the buyers will continue to flock to this market.

Dow Jones 30 and NASDAQ Index Video 04.06.18