Yesterday the American indices rose strongly. Today, the S&P 500 and the NASDAQ 100 are showing mixed sentiment, but the Dow Jones Industrial Average is still going up. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
Yesterday was a really interesting session. First, during the Asian trading session, the S&P 500 managed to rise above 4380. Then, at the beginning of the European trading session, the price started falling. However, in the early afternoon, it started rising strongly once again. The price even went up above the R2 resistance level and 4420 in the evening. After that, during the last 90 minutes of the American trading session, it dropped a bit. In consequence, the S&P 500 finished the day below the R2, slightly above 4410.
During the early hours of today’s Asian trading session, the price went down below 4410. Then it started rising slowly. If the buyers continue generating sufficient demand, the price might go up above 4420 today. But if the bears counterattack, the price could drop below the Pivot Point and reach the EMA 200 and 4400.
NASDAQ 100
NASDAQ 100 was even stronger yesterday. After many hours of rising significantly, the price went up above the R1 resistance level and 15130 in the evening. However, during the last 90 minutes of the American trading session, it dropped a bit. In consequence, the price finished the day a little below 15090.
During the early hours of today’s Asian trading session, the price went down below the EMA 200 and 15040. Then it started rising slowly. However, the price has been showing mixed sentiment since the start of the European trading session. If the buyers show their strength once again, the price might go up above 15100 today. But if the bears take control over the market, the price could drop below the Pivot Point and reach 15000.
Dow Jones Industrial Average
The DJIA index also was really volatile yesterday. First, during the Asian trading session, the price managed to rise above 34080. Then, at the beginning of the European trading session, it started falling. The price even dropped below 33900 in the early afternoon. After that, it started rising strongly once again. The price even went up above the R2 resistance level and 34230 in the evening. However, during the last two hours of the American trading session, it dropped a bit. In consequence, the Dow Jones Industrial Average finished the day slightly below the R2 and 34200.
During the early hours of today’s Asian trading session, the price went down below 34150. Then it started rising. If the buyers continue generating firm demand, the price might even reach today’s R1 and 34300. But if the bears counterattack, the price could drop to the EMA 200 today.
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