On Friday, the American indices managed to rise significantly. The S&P 500 was the strongest one – it finished the day above the R2 resistance level. NASDAQ 100 and Dow Jones Industrial Average finished the session above their R1. After the weekend all three of them opened slightly lower and they have been going down since then. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
That was a great, bullish last session of the week. The S&P 500 rose strongly and finished the day above the R2 resistance level. However, it opened slightly lower after the weekend and the price has been going down since then. Right now it is below the Pivot Point. If the buyers don’t generate some serious appetite soon, the price could drop to the S1 support level and the EMA 200. But if they do, the price might even set the new all-time high today.
NASDAQ 100
NASDAQ 100 also rose significantly on Friday. The price finished the session above the R1 resistance level. However, it opened slightly lower after the weekend and the price has been going down since then. Right now the bulls are trying to defend the EMA 200. If they do it successfully, the price might even reach the R1 today. But if they fail, the price could drop below the S1 support level.
Dow Jones Industrial Average
The DJIA index was very strong on Friday as well. The price finished the session a little below the R2 resistance level. However, it opened slightly lower after the weekend and the price has been going down since then. Right now the bulls are trying to defend the Pivot Point. If they do it successfully, the price might even reach 33000 today. But if they fail, the price could drop below the S1 support level and reach the EMA 200.
SSL Secured