Dow Jones 30 and NASDAQ 100 both show signs of resiliency on Wednesday

Christopher Lewis
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Dow Jones 30

The Dow Jones 30 went sideways during most of the trading session on Wednesday, as we continue to bounce around the 24,750 level. This is a market that should favor the upside, based upon better than anticipated corporate earnings, and possibly the cooling of trade war talk between the United States and the Chinese government. If that’s the case, it’s likely that the market will continue to go higher.

NASDAQ 100

Ultimately, the NASDAQ 100 is probably the biggest beneficiary of avoiding trade wars, as without a doubt the US and the Chinese will attack each other’s technologically driven companies. Because we are looking likely to step away from this, I think that the NASDAQ 100 will continue to go higher, and perhaps even drive the rest of the US stock markets higher, being a leader. I think that the 6700-level underneath is going to be a bit of a “floor” in the market, as we should go looking towards the 7000 level longer term. I think that the dips will offer value the people will not only take advantage of but could add to a core position when they appear. Overall, I anticipate that the NASDAQ 100 will be one of the better performers as far as indices are concerned. I don’t have any interest in shorting this market, least not right now.

Dow Jones 30 and NASDAQ Index Video 19.04.18

This article was originally posted on FX Empire

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