Yesterday was another good bullish session for the American indices. All three of them finished the session above their R1 resistance level. Today they are showing mixed sentiment, but the volatility is rather low. From the data front, the ADP nonfarm employment change in January will be published. Anyway, let’s start the analysis, S&P 500 first:
S&P 500
Yesterday was a good bullish session. The S&P 500 rose significantly and finished the session slightly above the R1 resistance level, a little below 4550. Today, it is showing mixed sentiment and the volatility is pretty low. If the buyers show their strength once again, the price might go up above today’s R1 and reach 4580. But if the bears take control over the market, the price could drop to the Pivot Point.
NASDAQ 100
NASDAQ 100 also rose significantly yesterday. The price finished the session slightly above the R1 resistance level and 15100. Today it is going up even more. If the buyers continue generating firm demand, the price might go up above today’s R1 and reach 15300. But if the bears counterattack, the price could drop to the Pivot Point and reach 15000.
Dow Jones Industrial Average
The DJIA index rose significantly yesterday as well. The price finished the session slightly above the R1 resistance level, a little above 35200. Today, it is showing mixed sentiment and the volatility is pretty low. If the buyers show their strength once again, the price might reach today’s R1 and 35400. But if the bears take control over the market, the price could drop below the Pivot Point and reach 35100.
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