Dow Jones 30 and NASDAQ 100 CFD markets quiet during holiday

The Dow Jones 30 and NASDAQ 100 CFD markets were of course quiet during the day on Monday, as the underlying indices were not open. It was Memorial Day in the United States, possibly one of the largest holidays during the trading year. However, I think that the underlying indices waking up during the day on Tuesday should be reacting to a couple of factors. · FX Empire

Christopher Lewis

Updated Mon, May 28, 2018, 9:54 PM

Dow Jones 30

The Dow Jones 30 has been bouncing around below the 25,000 level for some time now, but I think we may be getting ready to see a break out to the upside as we not only have a structurally important uptrend line underneath, we also have consolidation which is typically a continuation of the underlying trend. If we do break above the 25,000 level on a daily close, extensively making a fresh, new high, I think the market continues to go much higher.

NASDAQ 100

The NASDAQ 100 CFD market continues to go sideways in general, as we are testing the 7000 handle. I think that cooling geopolitical tension should help this market, and I think that it’s only a matter time before we go to the upside, perhaps reaching towards the 7100 level after that. I think short-term pullbacks continue to be buying opportunities, with the 6900-level underneath being massive support. Longer-term, I believe it’s only a matter time before the overall attitude of the market should show strength again, especially if the conversation between the Americans and the North Koreans continue to look possible. Beyond that, I think that the overall proclivity for markets to rally continues. Furthermore, pain attention to the interest rate markets in America could also give us a bit of a heads up as where we go next. That being said, we are most certainly trying to pick a bullish momentum.