On Friday the American indices managed to rise. Today, all three of them are falling, though. 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, the S&P 500 dropped below the Pivot Point and 4930. Then, at the beginning of the American trading session, the price started rising strongly. It even went up above the R1 resistance level and 4995 in the evening. However, during the last 30 minutes of the American trading session, the price dropped. In consequence, the S&P 500 finished the day a little below 4980.
During the first hours of today’s Asian trading session, the price dropped below the Pivot Point and 4965. Then, it started rising. If the buyers continue generating sufficient demand, the price might even reach 4990 today. But if the bears counterattack, the price could reach 4950.
NASDAQ 100
NASDAQ 100 also was really volatile on Friday. First, the price dropped below the EMA 200 and 17470. Then, at the beginning of the American trading session, it started rising strongly. The price even went up above the R1 resistance level and 17770 in the evening. However, during the last 60 minutes of the American trading session, it dropped a bit. In consequence, the NASDAQ 100 finished the day a little below the R1, at 17730.
During the first hours of today’s Asian trading session, the price dropped below 17670. Then, it started rising. If the buyers continue generating sufficient demand, the price might even reach 17800 today. But if the bears counterattack, the price could drop below the Pivot Point and reach 17600.
Dow Jones Industrial Average
The DJIA index was really volatile on Friday as well. First, the price dropped below the EMA 200 and 38440. Then, at the beginning of the American trading session, it started rising strongly. The price even went up above the R1 resistance level and reached 38890 in the evening. However, during the last 30 minutes of the American trading session, it dropped. In consequence, the Dow Jones Industrial Average finished the day a little above 38750.
Today, the price is falling even more. It is already below the Pivot Point and 38690. If the buyers don’t generate some serious appetite soon, the price could drop below 38600 today But if they do, the price might even reach 38800.
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