NASDAQ 100 Technical Analysis
The Nasdaq 100 is sitting right still during the early hours here on Tuesday, as on Monday, we broke above the top of a major channel. It looks like we are going to at least attempt to break out in an impulsive move to the upside. Given enough time, I think that is what happens, but short-term pullbacks are still very possible. I think that’s probably going to be the case with the markets starting to get pretty significant earnings over the next couple of days. And quite frankly, it only needs a little bit of help to drive it higher, especially now that the United States and China seem to be closer to a deal.
Dow Jones 30 Technical Analysis
The Dow Jones 30 has rallied in pre-market trading yet again, as it looks like we are reaching toward the 48,000 level. Pullbacks should see plenty of support near the 47,000 level, which was a previous barrier, and of course, a large, round, psychologically significant figure. The 50-day EMA continues to track along the uptrend line, which, in my opinion, makes it even more impressive as a support level. All things being equal, the Dow Jones 30 is steady and positive.