NASDAQ 100 Technical Analysis
The Nasdaq 100 has been slightly positive in the early hours here on Tuesday, as it looks like we are trying to get to the 24,000 level. A short-term pullback at this point in time, more likely than not, offers a valuable entry into the market for most traders. The uptrend line still holds as support and the 23,250 level is significant support, followed also by the 50 day EMA. So there seems to be plenty of technical reasons underneath for this market to continue higher.
Dow Jones 30 Technical Analysis
The Dow Jones 30 is in the midst of a rising wedge, but in the early hours of Tuesday, it seems to be somewhat slightly positive. I think at this point, the 45,000 level has to be thought of as a bit of a floor, but the Dow Jones 30 has been a bit of an underperformer. All things being equal, this is a market that I think, given enough time, probably tries to go higher towards the 46,000 level, but it is definitely the slowest of the three indices that I’m analyzing.