The American indices rose strongly on Friday. Today all three of them are going up even more. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
The S&P 500 rose strongly on Friday. The price finished the last session of the week slightly above the R2 resistance level, at 3865. Today it is going up even more. The price is already above today’s R1. Right now the bulls are attacking 3900. If they do it successfully, the price might even reach 3915 today. But if they fail, the price could return below 3880.
NASDAQ 100
NASDAQ 100 also rose significantly on Friday. The price finished the last session of the week high above the R1 resistance level, slightly above 12000. Today it is going up even more. The price is already above today’s R1 and 12150. If the buyers continue generating firm demand, the price might rise above today’s R2 and 12200. But if the bears counterattack, the price could return below today;s R1 and 12100.
Dow Jones Industrial Average
The DJIA index rose strongly on Friday as well. The price finished the last session of the week above the R2 resistance level and 31200. Today it is going up even more. If the buyers continue generating firm demand, the price might rise above today’s R1 and 31500. But if the bears counterattack, the price could return below 31300.
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