Dow Jones 30 and NASDAQ 100 Price Forecast December 28, 2017, Technical Analysis

US stock markets did very little during the trading session on Wednesday, as quite frankly there is an enough volume out there to push the futures markets around. Obviously, the CFD markets follow suit, and with this I think it’s probably going to be a few days before we get a significant move.

Dow Jones 30

The Dow Jones 30 went sideways of course, but I think the most important level at this point is the 24,700 level, as it is a bit of a “floor. If we can bounce from there, the market should then go to the 24,850 level which has been a bit of a ceiling. I believe that the choppiness continues to offer potential opportunities, but for short-term traders only. I would stick to a very tight range, and perhaps use the stochastic oscillator as a signal as well. Overall though, you would not be blamed for sitting on the sidelines as there is a much going on.

NASDAQ 100

The NASDAQ 100 was very quiet initially during the trading session, but then eventually settled on a slightly negative session. I believe that the 6400-level underneath is the “floor” in the market, and looking at the stochastic oscillator it’s likely that we will go looking towards that area. Otherwise, we could turn around towards the 6450 handle, but at this point in the year, it’s very difficult put on large position, but I do recognize that the NASDAQ 100 is bullish overall and longer term, so I believe that the attitude of this market will continue to be the same going into 2018, so if you are more of a longer-term trader, you may be able to start building up a position slowly and add as it works out in your favor.

MORE WILL UPDATE SOON!!

Dow Jones 30 and NASDAQ 100 Price forecast for the week of December 11, 2017, Technical Analysis

Stock markets around the world continue to find reasons to go higher, this week it was a stronger than anticipated jobs number.

Dow Jones 30

The Dow Jones 30 has gone back and forth during the week, forming a slightly neutral candle. I believe that pullbacks at this point, which I believe are also going to be very likely, should be buying opportunities. I believe that the markets will continue to go higher, and I think that the 23,500 level is massively supportive, and essentially the short-term “floor.” Overall, I do believe that selling is all but impossible, least not until we would break down below the 23,250 level, which would show a shift in attitude, and most certainly if we managed to break down below the 22,000 handle. In fact, at that point I think it would be a trend change. That seems very unlikely though, so these dips continue to be buying opportunities for those who are patient.

NASDAQ 100

The NASDAQ 100 has found enough support underneath to bounce and form a hammer again this week, and that tells me that the market is trying to break above the 6400 level, eventually reaching towards the 6500 level above. If we were to break down below the 6200 level, then we may go to the 6000 level eventually, but right now it appears that all stock markets are ready to rally, and that of course means that we will probably continue to see traders pick up these dips as value.

If we were to break down below the 6000 level, however unlikely at this point, then I would be a massive cellar as it would show just how quickly things have changed. When you look at the Stochastic Oscillator, it does look as if the market is overbought at this point, but it seems that nobody cares.

MORE WILL UPDATE SOON!!

Dow Jones 30 and NASDAQ 100 Price Forecast December 5, 2017, Technical Analysis

The US stock markets gapped higher at the open on Monday, suggesting that we are ready to continue the rally after the U.S. Senate passed a form of tax reform. This of course is a very bullish sign for tax reform, and should continue to elevate markets.

Dow Jones 30

The Dow Jones 30 gapped higher at the open on Monday, as the CFD markets reacted to tax reform coming out of the U.S. Senate. We are currently hovering just below the 24,500 level, which is an area that of course has a certain amount of psychological resistance, and therefore I think we could get a short-term pullback, but I believe there’s plenty of buying pressure underneath, as the gap should be supportive. As soon as the vote comes Monday night to perhaps send reconciliation into order, the markets will probably be bullish after that as well. I believe the 24,000-level underneath is massively supportive, and essentially a “floor.”

NASDAQ 100

Unlike the S&P 500 and the Dow Jones 30, the NASDAQ 100 fell during the day, as we continue to see a lot of volatility in the sector. We are starting to cross over in the oversold part of the Stochastic Oscillator, which of course is a sign that we could start buying again. I think the 6400 level above is massively resistive, just as the 6250-level underneath is going to be massive support. The choppy action in this market should continue, and with the sudden selloff that we have seen in the NASDAQ 100, I much prefer having a long position in either the Dow Jones 30 or the S&P 500 currently, as the NASDAQ 100 tends to be a bit of an outlier when it comes to the US indices.

MORE WILL UPDATE SOON!!