Yesterday all three American indices rose strongly and finished the session above their R1 resistance levels. However, they are going down today. From the data front, all eyes will be focused on the Nonfarm payrolls and unemployment rate in May. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
The S&P 500 rose strongly yesterday. The price finished the session high above the R1 resistance level, a little below 4180. However, it is going down today. If the buyers don’t generate some serious appetite soon, the price could drop below 4150 today. But if they do, the price might rise above 4190.
NASDAQ 100
NASDAQ 100 also rose strongly yesterday. The price finished the session high above the R1 resistance level, a little below 12900. However, it is going down today. If the buyers don’t generate some serious appetite soon, the price could drop below 12800. But if they do, the price might rise above 12950.
Dow Jones Industrial Average
The DJIA index rose strongly yesterday as well. The price finished the session above the R1 resistance level and 33250. However, it is going down a bit today. The price is already below 33200. If the buyers don’t generate some serious appetite soon, the price could drop below 33000. But if they do, the price might rise above 33400.
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