Dow Jones 30
The Dow Jones 30 initially dipped during the day, but found enough buying pressure near the 24,075 handle to rally a bit, making a fresh high for the day. However, I think the 24,000-level underneath is massively supportive, and because of this I think it’s only a matter of time before the buyers return. It seems to me that the algorithmic traders are willing to pick up this market every time it falls regardless, so I think in the end it’s a question of whether we rally immediately, or if we pull back and wait for the algorithms come back in and pick things up? Either way, I expect to see buying pressure by the end of the day.
Dow Jones 30 and NASDAQ Index Video 08.12.17
NASDAQ 100
The NASDAQ 100 has been a slightly negative initially during the day, rallied a bit, and as I record this it looks like we are falling again. There is a significant uptrend line just below that could offer a buying opportunity, and I think that given enough time we should go looking towards the 6400 level above. It’s not until we break above there that I think we are free to go higher for a larger move, but in the short term it seems that the NASDAQ 100 is much like any other and ask in the United States, simply one that gets picked up by the algorithms every time it drops too far. In general, this is a market that continues to be very volatile, but for those who are looking for value, you seem to find it almost every day.
This article was originally posted on FX Empire