Friday was a good bullish session for the American indices. All three of them rose significantly, the S&P 500 and NASDAQ 100 even set their new all-time highs. Today, they are rising even more. From the data front, the ISM manufacturing PMI in October will be published. Anyway, let’s start the analysis, S&P 500 first:
S&P 500
Friday was another great bullish session. The S&P 500 rose strongly, set the new all-time high and finished the last session of the month above the R1 resistance level, a little below 4600. After the weekend, the price opened 10 pips higher and has been still rising since then. Right now the bulls are attacking the R1. If they do it successfully, the price might go up above 4620 today. But if they fail, the price could fall below 4600.
NASDAQ 100
NASDAQ 100 also rose significantly on Friday. The price went up high above the R1 resistance level, set the new all-time high and finished the last session of the month above 15830. After the weekend, NASDAQ 100 opened 35 pips higher and has been still rising since then. If the buyers continue generating firm demand, the price might rise above the R1 today. But if the bears counterattack, the price could fall to 15800.
Dow Jones Industrial Average
The DJIA index was a bit weaker on Friday. However, the price still managed to rise and finished the last session of the month a little above 35700. After the weekend, it opened 75 pips higher, set the new all-time high, and has been still rising since then. The price is already above the R1 resistance level. If the buyers continue generating firm demand, the price might go up above 36000 today. But if the bears counterattack, the price could fall to 35700.
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