On Friday the American indices rose significantly. Today, the NASDAQ 100 is going up even more, the Dow Jones Industrial Average is falling and the S&P 500 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 5115. Then, at the beginning of the European trading session, the price started falling. It even dropped below the Pivot Point and 5090 one hour before noon. After that, the price started rising strongly. In consequence, the S&P 500 finished the last session of the week exactly at the R2 resistance level and 5145.
Today, the price is showing mixed sentiment. The volatility is rather low, though. If the buyers show their strength once again, the price might go up above 5150 today. But if the bears take control over the market, the price could even drop below 5130 and reach the Pivot Point.
NASDAQ 100
NASDAQ 100 also was really volatile on Friday. First, during the Asian trading session, the price managed to rise above 18160. Then, at the beginning of the European trading session, it started falling. The price even reached 18030 one hour before noon.
After that, it started rising strongly. The price even went up above the R2 resistance level and 18370 in the evening. However, during the 90 minutes of the American trading session, it dropped a bit. In consequence, the NASDAQ 100 finished the day a little above 18330.
Today, the price is rising slowly. It is already above 18360. If the buyers continue generating sufficient demand, the price might go up above 18400 today. But if the bears counterattack, the price could even drop below 18300.
Dow Jones Industrial Average
The DJIA index was really volatile on Friday as well. First, during the Asian trading session, the price managed to rise above 39090. Then, at the beginning of the European trading session, it started falling. The price even dropped below 38890 at the beginning of the American trading session.
After that, it started rising significantly. The price even went up above the R1 resistance level and reached 39170 in the evening. However, during the 90 minutes of the American trading session, it dropped a bit. In consequence, the Dow Jones Industrial Average finished the day slightly below the R1 and 39150.
Today, the price is falling slowly. It is already below the Pivot Point and 39070. If the buyers don’t generate some serious appetite soon, the price could drop below 39020 and reach the EMA 200 today. But if they do, the price might reach 39150.
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