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Dow Jones 30 and NASDAQ 100 Price Forecast – US stocks quiet on Tuesday

Christopher Lewis
Updated
The US stock markets were sideways overall, as we continue to see a lot of headline risk out there. I think that the market may be trying to catch his breath so that we can continue the upward movement. Short-term pullbacks should continue to offer plenty of value in a market that is overall going to be bullish.

Dow Jones 30

The Dow Jones 30 when sideways during the trading session on Tuesday, as we are perhaps catching our breath after a big move to the upside. The 25,000 level being broken to the upside was a bullish sign and a momentous move, so it makes sense that it would take a lot of effort to continue going higher in the short term. However, I look at the 25,000 level as a very likely support level from here, and it will more than likely attract a lot of value hunting. I believe that the markets have already priced in an interest rate hike, so I think that is now off the table as far as reaction is concerned. Longer-term, I believe we go much higher.

NASDAQ 100

The NASDAQ 100 is approaching the 7200 level above, which is resistance extending to the recent highs at the 7225 level. I think that short-term pullbacks continue to be buying opportunities, as we have seen more than once. I believe that the NASDAQ 100 continues to have a bit of catching up to do, but eventually we should break out and go much higher. I think that once we break to the fresh, new high, the market probably goes looking towards the 7300 level next as every hundred points or so seems to be very attracted to traders in this market as it is so technically driven.

Dow Jones 30 and NASDAQ Index Video 13.06.18

This article was originally posted on FX Empire

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