Dow Jones 30 and NASDAQ 100 Forecast June 30, 2017, Technical Analysis

Dow Jones 30

As we saw in all US indices, the sellers came out in full force on Thursday. As we are heading into the holiday weekend, it’s likely that liquidity will dry up, so quite frankly I’m not looking for some type of major turnaround during the session today. However, if we break down below the 21,300 level, the market should then go down to the 21,200 level. Given enough time, I think we could turn around and reach towards the 21,500 level, but I don’t like the idea of jumping into this market quite yet. We will need some type of stability, so with this being the case it’s likely that the market should continue to be volatile but it’s difficult to imagine being able to put any large amount of money in the market over the short term. You are probably best standing on the sidelines.

Dow Jones 30 and NASDAQ Index Video 30.6.17

NASDAQ 100

The NASDAQ 100 fell significantly during the day as well, as it now approaches the 5600 level. A breakdown below there could be a selling opportunity, but I think in the meantime we are probably best left waiting to find some type of stability in the market to start buying, or perhaps some type of massive pressure to start selling. In the short term, this is likely a market that will continue to be difficult to hang onto, as the volatility continues to be a major issue. I think that perhaps waiting to see the market calm down a bit is probably the best way to approach as liquidity will certainly be an issue. With this, I’m going to step away until after the holidays get passed as of the markets will continue to be very difficult to deal with.