NASDAQ 100 Technical Analysis
The Nasdaq 100 continues to grind higher in pre-market trading on Friday, as we are most certainly in a very bullish market and really at this point in time, I just don’t see how you could get short of this market. If we do get a pullback from the PCE numbers, then possibly you may get an opportunity to buy this market at a lower level. As things stand right now, I believe that the 22,000 level is your floor. The target is going to be at least 23,000. Quite frankly, it’s probably going to be higher than that.
Dow Jones 30 Technical Analysis
The Dow Jones 30 has found itself battling the 43,550 level, an area that’s been important over the last several months. And at this point in time, I think it could very well end up playing catch up with some of the other indices in the United States. The NASDAQ 100 is leading the way, but the Dow Jones 30 has been fairly strong itself. With this being the case, I think if we continue to see strength elsewhere, the Dow Jones 30 will try to make a move to the 44,000 level and then eventually 45,000. 43,500 is more likely than not going to be your short-term floor.