NASDAQ 100 Technical Analysis
The NASDAQ 100 rallied a bit during the trading session in early trading, as we are now breaking to fresh new highs. So, with that being said, a short-term pullback is more likely than not going to be a buying opportunity, perhaps all the way down to the 22,000 level. At this point, we broke higher, and screamed to the upside. And with this being the case, I don’t see any other choice but to be bullish at this point. Although it is worth noting that volume is a little lighter than it had been, quite frankly, this recovery has been far too much to fight.
Dow Jones 30 Technical Analysis
The Dow Jones 30 is looking to break out as well and perhaps go looking to the 43,500 level. The 42,900 level has been supportive over the last couple of days, and I think we continue to see a lot of upward momentum. Short-term pullbacks, again, I think, offer plenty of value here in the Dow Jones 30, which I believe has some catching up to do with some of the other indices.