US stock markets rally on Thursday in signs of confidence

Dow Jones 30

The Dow Jones 30 pulled back a bit during the trading session on Thursday, reaching down towards the 24,000 level but finding that previous resistance barrier supportive enough to turn around and rally significantly. I think that earnings coming out better than anticipated for several of the larger companies in the United States should continue to push this market to the upside, perhaps targeting the 25,000 level over the longer term. I think that short-term pullbacks will be buying opportunities, and that the uptrend line that coincides with roughly 23,500 underneath should continue to keep the market looking for higher levels.

NASDAQ 100

The NASDAQ 100 pulled back a bit during the trading session, reaching towards the 6550 level, an area that has been important more than once. Now that we have rallied from there and broke above the 6600 level, the market looks likely that we are going to go to the 6700 level above. I think this market will continue to do quite well and with Facebook reporting blowout earnings, it’s likely that we will continue to see the NASDAQ 100 recovered. The uptrend line underneath at the 6400 level should continue to keep the market afloat, and therefore I am a buyer of these dips looking for value. Longer-term, I anticipate that we are going to go to the 7000 handle. It’s volatile, but I believe there’s an underlying bullishness.

Dow Jones 30 and NASDAQ Index Video 27.04.18