Yahoo Finance Dow Jones 30 and NASDAQ 100 Price Forecast September 22, 2017, Technical Analysis
Dow Jones 30
The Dow Jones 30 drifted lower during the session on Thursday, as we continue to see volatility in the US stock markets. However, I believe that there is a significant amount of bullish pressure underneath, and that should continue to drive this market higher over the longer term. I believe that the 22,300 level offers a bit of a floor, and until we break down below there I have no interest in shorting this market. Longer-term, the stock markets continue to be bullish, and I’ll see the reason to fight the tape. Yes, the Federal Reserve looks likely to shrink the balance sheet, and that works against the value of the stock market sometimes. However, I believe there is also a bullish overtone to the marketplace, and therefore I think that we will eventually go looking towards the 22,500 level. The short-term pullback is merely a blip on the radar.
Dow Jones 30 and NASDAQ Index Video 22.9.17
NASDAQ 100
The NASDAQ 100 fell rather significantly, but did rally a bit towards the end of the session. If we can break down below the 5900 level, the market should continue to go towards the downside. A breakdown below the 5900 level should send this market looking for even lower levels. Ultimately, I think that if we rally towards the upside, then the 6000 level will be targeted. However, the NASDAQ 100 looks as if it is ready to start rolling over, and that could be negative in general. After all, the NASDAQ 100 did leave the stock markets higher over the last several weeks, but we have seen a bit of a rotation into industrial stocks. Because of this, I believe that the Dow Jones 30 is now the leader, and that could help keep this market somewhat afloat.
This article was originally posted on FX Empire
