US stock markets quiet ahead of US and North Korea meeting

Updated : Jun 12, 2018, 06:44 UTC•1min read

Dow Jones Grey Sky

The US stock markets were a bit quiet during the day on Monday, as we await the results of a summit between the Americans and the North Koreans. Obviously, this could be a major geopolitical event, and it will of course attract a lot of attention.

Dow Jones 30

The Dow Jones 30 rose slightly during the day before pulling back on Monday. I think we are simply killing time between now and the results of the meeting between the Americans and the North Koreans, and that of course will have a major geopolitical effect on the markets. I think that the 25,000 level underneath is massive support, and if we can stay above there, the market will eventually find buyers. If we can break above the 25,400 level, the market should continue to go even higher, perhaps reaching towards the 24,500 level after that. I expect a lot of noise in this market, but ultimately I think that the buyers are going to come in and take over again.

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NASDAQ 100

The NASDAQ 100 has been slightly bullish over the last 24 hours, but I think that the market will try to go higher, perhaps reaching towards the 7200 level above. The 7100 level underneath continues to be support, and I think that given enough time we should revisit the highs again. The NASDAQ 100 has been a bit of a laggard when it comes to the US stock markets, but I think eventually it will continue to go higher as the market should continue to be influenced by geopolitical events, and it’s only a matter of time before good news jump back into the marketplace. However, if we were to break down below the 7000 level, the market could break down rather significantly.