Dow Jones 30 and NASDAQ 100 Price Forecast February 9, 2018, Technical Analysis

Dow Jones 30

The Dow Jones 30 has fallen a bit during the trading session on Thursday, losing almost 2% as I record this video. However, I think there is plenty of support below to keep the market going higher, longer term. I would step out of the way of this market and have no interest in shorting as I think the market has value hunters looking at it with great interest right now. Somewhere closer to the 23,000 handle I suspect there could be buyers, but I’m going to wait until we get a daily candle the tells me to start buying before I put money to work.

Dow Jones 30 and NASDAQ Index Video 09.02.18

NASDAQ 100

The NASDAQ 100 has broken down significantly during the trading session on Thursday, slicing through the vital 6500 level. There is more support at the 6300 level underneath, and I think that the buyers will probably return if we get too close to that level. If we break down through it, then I think the markets probably going to go looking towards the 6000 handle. The NASDAQ 100 looks especially vulnerable at this point, so I am waiting for a daily supportive candle before I put money to work. If I were to short one of these markets, it would be the NASDAQ 100 as it seems to be hurting. Longer-term, I think that the buyers will return, but right now they are obviously stepping on the sidelines and waiting for signs of stability before doing so.

Dow Jones 30 and NASDAQ Index Video 09.02.18