Dow Jones 30 and NASDAQ 100 Price Forecast February 2, 2018, Technical Analysis

Dow Jones 30

The Dow Jones 30 market has gone back and forth during the trading session on Thursday, as we tested the 26,000 level for support. The 26,300 level is offering a little bit of resistance as I record this, but I think ultimately, we will go higher. The market will react to the jobs number obviously, so I think that the announcement will be crucial. I believe that the market will eventually find its way towards the 26,700 level but buying between now and the announcement is essentially gambling. Waiting for a daily close is probably the best way to go.

NASDAQ 100

NASDAQ 100 traders went back and forth during the trading session on Thursday as well, testing the 6900 level yet again for support, but then reaching towards the 6975 level. If we can break above the 7000 level, the market can go much higher, as we continue to see bullish pressure in the NASDAQ 100 longer term. I think that the jobs number of course causes a lot of volatility here as well, so today is probably a day that best observed, and simply processed at the end of the session and treated accordingly. If we break down below the 6900 level, I suspect that the 6800 level is the next massive support level that should continue to hold this market up. If we break down below there, things get a little bit uglier. Stay tuned, I’ll let you know what I’m doing in the next video.

Dow Jones 30 and NASDAQ Index Video 02.02.18