US stock markets slightly positive on Thursday

Dow Jones 30

The Dow Jones 30 rallied a bit during the trading session on Thursday, perhaps reaching towards the 25,300 level. I think that short-term pullbacks are very likely, but quite frankly they should be buying opportunities as it should offer a bit of value now that we have broken above the psychologically important 25,000 handle. I look at 25,000 as the “floor” of this move, and I think that eventually any tested that area will attract value hunting. Longer-term, I anticipate that we are going to go to the 25,500 level. Beyond that, we could go even further, possibly towards the 26,000 level over the next several weeks.

NASDAQ 100

The NASDAQ 100 has fallen, working against the value of the US stock markets. The Dow Jones 30 and the S&P 500 both had a positive session, and I think that the pullback in the NASDAQ 100 suggests that tech is having a hard time. However, I see there is a significant amount of support underneath at the 7100 level, and I believe that any pullback to that area should have plenty of interest. If we break down below there, the market could go down to the 7000 handle, an area that should be massive support as it was massive resistance. I believe that we will find plenty of interest in this market longer-term, so look at this as value and if we can continue to see bullish pressure and other indices in America and avoid trade war talks, the NASDAQ 100 will eventually turn around and go higher.

Dow Jones 30 and NASDAQ Index Video 08.06.18