Yesterday the American indices managed to rise. Today all three of them are going up even more. From the data front, the CPI and core CPI in June will be published. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
Yesterday was a really interesting session. First, during the Asian trading session, the S&P 500 reached 4455. Then, at the beginning of the European trading session, the price started falling. Two hours later it dropped below 4440. Right after that, the price started rising strongly. In consequence, the S&P 500 finished the session at the R2 resistance level, a little above 4470.
Today the price is rising even more. If the buyers continue generating firm demand, it might even reach today’s R1. But if the bears counterattack, the price could drop below 4470 today.
NASDAQ 100
NASDAQ 100 also was really volatile yesterday. First, the price rose above the EMA 200 and 15230. Then, at the beginning of the American trading session, it started falling. One hour later, the price dropped below 15110. Right after that, it started rising strongly. In consequence, the NASDAQ 100 finished the session above the R1 resistance level and 15250.
Today the price is rising even more. It is already above 15290. If the buyers continue generating firm demand, the price might even go up above today’s R1 and reach 15350. But if the bears counterattack, the price could drop to 15250 today.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday as well. First, during the Asian trading session, the price managed to rise above the EMA 200 and 34210. Then, at the beginning of the European trading session, it started falling. Two hours later the price dropped below 34130. Right after that, it started rising strongly. In consequence, the Dow Jones Industrial Average finished the session high above the R2 resistance level, at 34440.
During the first hours of today’s Asian trading session, the price dropped to 34410. After that, it started rising significantly. The price is already above 34480. If the buyers continue generating firm demand, the price might even reach 34600 and today’s R1. But if the bears counterattack, the price could drop below 34400.
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