Yesterday was another great bullish session. All three American indices rose strongly. Today, they are going down a bit, though. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
Yesterday the S&P 500 rose strongly once again. The price finished the session above the R2 resistance level, at 4365. However, it is going down today. Right now the price is a little below 4345. If the buyers don’t generate some serious appetite soon, the price could drop below the Pivot Point and 4320. But if they do, the price might bounce and reach 4380.
NASDAQ 100
NASDAQ 100 also rose strongly yesterday. The price finished the session significantly above the R2 resistance level, a little below 13980. However, it is going down a bit today. Right now the price is slightly above 13930. If the buyers don’t generate some serious appetite soon, the price could drop below the Pivot Point and 13800. But if they do, the price might bounce and reach 14100.
Dow Jones Industrial Average
The DJIA index rose strongly yesterday as well. The price finished the session significantly above the R1 resistance level, at 34100. However, it is going down a bit today. Right now the price is near 33950. If the buyers don’t generate some serious appetite soon, the price could drop below the Pivot Point and reach 33700. But if they do, the price might bounce and reach 34200.
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