Dow Jones 30 and NASDAQ 100 Price Forecast December 26, 2017, Technical Analysis

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Christopher Lewis

Updated Fri, Dec 22, 2017, 10:50 PM

Dow Jones 30

The Dow Jones 30 pulled back a bit during the trading session on Friday, reaching down to the 24,700 level. That’s an area that has been supportive over the last couple of sessions, and we did bounce from that level slightly. However, the volume wasn’t there, as traders are worrying about Christmas, and not trading stocks. Longer-term, I believe this market is going higher, but we may get a short-term pullback to find value below, and more importantly – the necessary volume. I have no interest in shorting, I believe that the longer-term trend continues.

Dow Jones 30 and NASDAQ Index Video 26.12.17

NASDAQ 100

The NASDAQ 100 went sideways initially during the trading session on Friday, but then dropped towards the 6450 level. That’s an area that has been supportive recently, but I think there is even more support at the 6400-level underneath, and we may have to drop down towards that area to find the necessary momentum to continue the move to the upside. Alternately, if we break above the 6500 level, that could send this market the much higher levels. Either way, I don’t want to short this market I think there is plenty of bullish pressure to continue to drive this market to the upside and therefore buying the dips continues to be the best way to approach it. The NASDAQ 100 has been a bit sluggish compared to the other indices in the United States, but has remained very bullish in general.