Dow Jones 30
The Dow Jones 30 went sideways initially on Thursday, but then broke above the 22,700 level. By doing so, we then reached towards the 22,750 level above. The market is a bit overextended, and we have the jobs number coming today, which should offer a significant reason for volatility. I look at a pullback at this point should be a buying opportunity though, and longer-term I still believe that the buyers again a return to this market as we have been rolling out of technology stocks and into industrials. The 23,000 level of course is the next target, but I think we will continue to go to the 25,000 level. I look at pullbacks as value, and I’m sure the rest of the market does as well. I have no interest in selling the Dow Jones 30, and any reaction to the jobs number that is negative should end up being a nice buying opportunity.
Dow Jones 30 and NASDAQ Index Video 06.10.17
NASDAQ 100
The NASDAQ 100 exploded to the upside as we have now cleared the 6000 handle handily. We are now going towards the 6050 level, and pullbacks of this point in time should be buying opportunities. 6000 should be the “floor” underneath, and I think that the market will look to much higher levels. We have been banging up against the 6000 level several times over, and now that we have broken above there, it’s likely that the massive area should now offer support. I think that now that we have finally broken above this level, the NASDAQ 100 can start to catch up with the other stock markets.
Selling isn’t a possibility, and therefore I look at pullbacks as opportunities to add to a larger core position now. The NASDAQ 100 looks ready to fly with the rest of them.
This article was originally posted on FX Empire