Nasdaq 100, Dow Jones 30 and S&P 500 Forecasts – US Indices Stretched at the Moment
The Dow Jones 30 looks somewhat stuck at the moment in a little bit of a short-term range. This is probably a little healthier move as it’s not straight up in the air. A little bit of sideways action here probably goes a long way to work off some of the excess froth that we’ve recently seen, and I still look at the Dow Jones 30 as having an important level in the form of 48,000, which, at least in theory, should offer support.
A pullback to that area and a bounce for me at least gets very interesting, 49,000 above being the next target.