US stock markets drift aimlessly during the session on Tuesday

US stock drifted back and forth during the trading session on Tuesday, as we approached some major levels, and of course continue to see a lot of back-and-forth when it comes to concerns about global trade.·FX Empire
Christopher Lewis
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Dow Jones 30

The Dow Jones 30 slump slightly during the trading session on Tuesday, as the 24,900 level has offered resistance. However, I think that the market will eventually go looking towards the 25,000 level, and the latest lows on the hourly chart have been higher, which of course is a very bullish sign. If we can break above the 25,000 handle, then the market could go much higher, perhaps reaching towards the 25,250 level eventually. The uptrend line underneath should continue to keep this market lively, and I think that it’s only a matter of time before the buyers come in and look for value, especially if the trade war situation calms down as the Dow Jones 30 is highly sensitive to global movement of major goods.

NASDAQ 100

The NASDAQ 100 has rallied significantly during the trading session again on Tuesday, leading the way for the rest of the US stock markets. However, the NASDAQ 100 looks as if it is going to pulled back a little bit, but I think this offers value that traders will be taken advantage of. The 7100 level should be supportive, and I think that it’s only a matter of time before the buyers get involved. The 7000 level underneath will be a bit of a “floor” in the NASDAQ 100, as it leads the rest of the European and American indices higher over the longer-term. I think that selling is something that you should not be bothered with, and that you should look at pullbacks as opportunities to pick up the NASDAQ 100 “on the cheap.”

Dow Jones 30 and NASDAQ Index Video 06.06.18

This article was originally posted on FX Empire

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