Yahoo Finance US stock markets rally for the week
Dow Jones 30
The Dow Jones 30 had a very positive week, slicing through the 25,000 level handily, and going much higher on Friday. It looks as if we are going to challenge the 25,300 level, and perhaps go looking towards the 26,000 level after that. We have recently bounced from a major trend line, and it now looks as if bullish pressure is going to continue to run the show. I like buying dips, and I believe that the longer-term outlook for this market is bullish in general. In fact, I believe that the Dow Jones 30 will continue to lead many of the other indices that I follow higher.
NASDAQ 100
The NASDAQ 100 has rallied a bit during the week, breaking above the 7200 level. The market breaking above that level is a bullish sign, but we gave back quite a bit of the gains. By doing so, we formed something along the lines of the shooting star, but we have also made a “higher high.” Because of this, it looks as if we will eventually go to the upside, but we may need to pullback to build up enough momentum to continue going to the upside. The market has recently found an uptrend line very supportive, and although the NASDAQ 100 looks very strong, it also looks as if it needs to build up momentum. It will be a laggard when it comes to US stock markets, but overall I think that buying the dips continues to be the way over here as well.
Dow Jones 30 and NASDAQ Index Video 11.06.18
This article was originally posted on FX Empire
