Dow Jones 30 and NASDAQ 100 Price Forecast – Friday selloff

Dow Jones 30

The Dow Jones 30 has shown a significant amount of concern on Friday after the tariffs were exchanged between the United States and China, which of course makes a lot of sense as the Dow Jones 30 has some of the largest companies in the world upon it. With this being the case, I think that it is only a matter time before we continue to see more volatility, but over the weekend we may get a consolatory tone out of either the US or China, and that could calm things down and have buyers jumping back in. Longer-term, we are still very much in a bull run.

NASDAQ 100

The NASDAQ 100 also fell but does lead the charge higher. The 50 SMA on the hourly chart seems to be working as dynamic support, so I think we will have to wait and see what happens next. However, I do favor the upside and I think that we will eventually go looking to the 7300 level. I look at pullbacks as value and anticipate that there should be buyers near the 7200 level, and possibly even below the 7100 level. The NASDAQ 100 should continue to benefit from overall momentum, as it has been so bullish as of late. I have no interest in selling this market until we break down below the 7000 handle, something that doesn’t look very likely anytime soon.

Dow Jones 30 and NASDAQ Index Video 18.06.18

This article was originally posted on FX Empire

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