Yahoo Finance US stock markets show signs of strength on Friday after initially falling
Dow Jones 30
The Dow Jones 30 initially fell during the trading session on Friday, reaching down towards the 25,100 level. There is a significant bounce after that that has happened, that’s a very bullish sign. I believe that the 25,000 level underneath should continue to be massive support, as it has been massive resistance. I think that short-term pullbacks should give us an opportunity to pick up value, especially after the reaction that we have seen during the Friday session. Overall, I believe that we are going to continue to go higher, and perhaps reach towards the 25,500 level in the short term.
NASDAQ 100
The NASDAQ 100 fell initially during the trading session on Friday but found enough support at the 7075 level to turn around and rally significantly. By doing so, we have wiped out most if not all of the losses from the session, and it shows just how bullish the markets are. However, the NASDAQ 100 is a bit of a laggard when it comes to the US stock indices, so while I think it will eventually have to “catch up”, the reality is that the move might be a bit slower. I do believe in buying dips over here as well, and I think that the 7000 level should offer a bit of a “floor” in the short term. Longer-term, I anticipate that we are going to go to the 8000 level, but that’s going to be months down the road.
Dow Jones 30 and NASDAQ Index Video 11.06.18
This article was originally posted on FX Empire
