Daily Outlook for NASDAQ 100, S&P 500 and Dow Jones Industrial Average

Yesterday the American indices rose significantly once again. 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

Yesterday was a really interesting session. First, the S&P 500 rose high above the R2 resistance level and 4520. Then, in the afternoon, the price started falling. One hour later, it dropped below the R2 and 4500. However, in the late afternoon, the price started going up once again. In consequence, the S&P 500 finished the session a little below 4510.

Today the price is rising even more. It is already above 4520. If the buyers continue generating firm demand, the price might even reach 4530 today. But if the bears counterattack, the price could drop to 4510.

NASDAQ 100

NASDAQ 100 also was really volatile yesterday. First, the price rose high above the R2 resistance level and 15500. Then, in the afternoon, it started falling. One hour later, the price dropped below the R2 and 15350. However, in the late afternoon, the price started going up once again. In consequence, the NASDAQ 100 finished the session a little below 15450.

Today the price is rising even more. It is already above 15520. If the buyers continue generating firm demand, the price might even reach 15600 today. But if the bears counterattack, the price could drop to 15450.

Dow Jones Industrial Average

The DJIA index was really volatile yesterday as well. First, the price rose above the R2 resistance level and 34750. Then, at the beginning of the American trading session, it started falling. The price even dropped below the R1 and 34520 in the evening. During the last 90 minutes of the American trading session, it managed to go up a bit, though. In consequence, the Dow Jones Industrial Average finished the day at 34560.

Today the price is rising slowly. The volatility is really low, though. If the buyers continue generating sufficient demand, the price might even reach 34750 today. But if the bears counterattack, the price could drop below 34500.