Dow jones weekly-expect targets 20140 and 20500
DJIA index this week closed with gain. After last week correction and profit booking Dow resumed primary trend and heading higher. In last 9 weeks dow seen 2 negative and 7 positive weekly closing and rallied almost by 2000 points from low which is very significant suggesting underlying demand drive in US Market. On upside my positional target zones are 20140 and then 20500. Above 20500, Dow once gain enter super bullish zone for big upside targets. From long term view, Dow jones is heading for 20950 and 22050.
S&P 500 weekly-almost hit target 2285 next is 2325
S&P 500 index this week closed with gain. after last week’s correction and consolidation, buyer are back in market and lifting index towards 2285 which almost hit this week with high of 2282. Above 2285, expect next target is at 2325. Above 2325,same like we saw in December. For 2017, my S&P 500 index targets are 2355 and 2460. On downside 2235 is major support for month of January and above it every major dip will be buying opportunity.
NASDAQ weekly-hit 5535 target next is 5660
VIX weekly-fresh breakdown hint target 9.34
VIX this week closed with loss. After last week’s bounce back, vix resumed long term downtrend and now heading towards target of 9.34. On upside 13.3 is major hurdle and below it vix will remain bearish and trend down. On long term chart, vix is heading down towards targets of 7.2 to 5 butahead.