Yahoo Finance Dow Jones 30 and NASDAQ 100 both fall on talks cancellation
Dow Jones 30
The Dow Jones 30 fell significantly during the trading session on Thursday, as the US announced that the talks between the Americans and the North Koreans were canceled. This has caused a bit of knee-jerk reaction to the downside, reaching towards the 24,600 level, an area that has been supportive in the past. It looks like we are trying to bounce from here and quite frankly I think that the cooler heads will eventually prevail as the North Korean economy has almost nothing to do with the global economy.
NASDAQ 100
The NASDAQ 100 fell during the trading session on Thursday, the markets broke below the 6900 level after it was announced that the Americans were not having a conversation with the North Koreans anymore. Ultimately, the market should continue to go higher, but I think that this knee-jerk reaction will simply be looked at as value just waiting to happen. Ultimately, I think that the market should continue to try to get towards the 7000-level bone, which is a major barrier. I look at this as an opportunity to pick up the NASDAQ 100 on the cheap, and I think that the support extends down to the 6800-level underneath. I have no interest in shorting this market until we break down below the 6780 handle. Overall, I like the idea of building this up and trying to take advantage of a major break out.
Dow Jones 30 and NASDAQ Index Video 25.05.18
This article was originally posted on FX Empire
