US stock markets find buyers after initially dipping on Wednesday

US stock markets found buyers after initially pulling back during the trading session on Wednesday, as we continue to see plenty of reasons to find value that we can take advantage of. Ultimately, it looks as if we have several levels to pay attention to in both the Dow Jones 30 and the NASDAQ 100. · FX Empire

Christopher Lewis

Updated Wed, May 9, 2018, 10:12 PM

Dow Jones 30

The US stock markets initially fell during the day on Wednesday, but the Dow Jones 30 found plenty of support to turn things around and rallied. The 24,300 level has offered support, and now it looks as if we are trying to break towards the 24,500 level. A break above that level should send this market higher, perhaps reaching towards the 24,750 level. Ultimately, this is a market that I think will continue to find pullbacks as value, and this is yet another bump in the road and a recent major uptrend line has offered of major support.

NASDAQ 100

The NASDAQ 100 is breaking out to a fresh, new high as I record this video. That’s a very obvious sign that we are going to go higher. The markets should go looking toward 6900, perhaps even the 7000 level above. I think that the 6800 level is going to offer support, and then everyone hundred points underneath should continue to offer support also. I believe that the NASDAQ 100 should continue to lead the way based upon the strength that it is showing, and perhaps it is only a matter of time before pullbacks will be looked at as value that people can take advantage of. Ultimately, I believe that the 7000 level will be targeted sometime this summer and it’s only a matter of time. I have no interest in shorting anytime soon.