On Friday the American indices went down. Today, the S&P 500 and the Dow Jones Industrial Average are rising, but the NASDAQ 100 is showing mixed sentiment. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
Friday was a really interesting session. First, during the Asian trading session, the S&P 500 managed to rise above 4840. Then, at the beginning of the American trading session, the price started falling deeply. It even dropped below the S3 support level and 4800 in the late afternoon. After that, the price started rising. In consequence, the S&P 500 finished the last session of the year slightly below the S2 and 4820.
Today, the price is rising. It is already above 4825. If the buyers continue generating firm demand, the price might even reach 4835 today. But if the bears counterattack, the price could fall below the Pivot Point and reach 4815.
NASDAQ 100
NASDAQ 100 also was really volatile yesterday. First, during the Asian trading session, the price reached 17130. Then, at the beginning of the American trading session, it started falling deeply. Two hours later, the price even dropped below 16940 and reached the S3 support level. After that, it started rising. In consequence, the NASDAQ 100 finished the last session of the year slightly below the S2 and 17020.
During today’s Asian trading session, the price reached 17000. Then, in the morning, it started rising. If the buyers continue generating sufficient demand, the price might go up above the EMA 200 and reach 17070 today. But if the bears counterattack, the price could even fall to 16980.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday as well. First, during the Asian trading session, the price reached 38090. Then, at the beginning of the American trading session, it started falling deeply. Two hours later, the price even dropped below the S2 support level and reached 37840. After that, it started rising. In consequence, the Dow Jones Industrial Average finished the last session of the year slightly below the Pivot Point, at 38000.
Today, the price is rising. Right now the bulls are attacking 38100 and today’s R1 resistance level. If they do it successfully, the price might even reach 38200. But if they fail, the price could fall below 38000 and reach the Pivot Point today.
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