US Market Indices Overview
Pre-market trading shows choppy movement in major US indices. The Nasdaq 100 and S&P 500 maintain their upward trends, while the Dow Jones 30 is slightly weaker.
Nasdaq 100 Analysis
The Nasdaq 100 is fluctuating near the 25,600 level during pre-market hours. On Wednesday, the market formed a hammer candlestick, suggesting traders are attempting to push prices higher again. Even if a drop occurs, strong support is expected around 25,000.
I’m not shorting this market, and I do believe it’s only a matter of time before we continue to see momentum to the upside.
Dow Jones 30 Insights
The Dow Jones 30 has slipped slightly and is testing the 47,000 level, which appears to act as major support after previously serving as resistance. This support level is reinforced by market memory and the ongoing uptrend.
I have no interest whatsoever in trying to short this market, although it is admittedly a bit of a laggard compared to the Nasdaq 100 and the S&P 500.
Key Market Perspectives
- Overall, all indices are in an uptrend.
- Pullbacks are seen as buying opportunities amid steady momentum.
- The Dow Jones 30 is weaker but holding a critical support level.
- The Nasdaq and S&P 500 continue to lead with stronger momentum.
Despite some short-term volatility, the markets are positioned for further gains, with strong support zones providing confidence for buyers.
Author’s Summary
US indices exhibit firm overall uptrends, with pullbacks offering buying chances, while the Dow lags slightly but remains supported near a key level.
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