NASDAQ, Dow Jones and S&P 500 Forecast – US Indices Look to Rally After Holiday

Dow Jones 30 Technical Analysis

The Dow Jones 30 has of course done nothing on Thanksgiving and on the day before we did try to rally, but we got back some of those gains. This is still a very bullish market. And quite frankly, I think it’s probably the strongest of the three major US indices. The 43,750 level is an area that could offer a little bit of support. And then after that, we could have 43,000 backed up by the 50 day EMA. The 45,000 level above is a bit of a barrier.

So, I think if we can finally break above that, then we can kick off the next leg higher. Keep in mind though, that the US markets will, of course, be somewhat illiquid on Friday, as the day after Thanksgiving does see the market close at one in the afternoon, New York time. So, a lot of Americans, quite frankly, just aren’t even trading. But even if we do get a little bit of a move, it will be short lived. This is all about next week and how things will behave on Monday. I think any short-term pullback though does offer a little bit of value.