On Friday the American indices rose strongly. Today all three of them are 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 great bullish session. After rising strongly all day, the S&P 500 finished the last session of the week high above the R2 resistance level, a little below 4290. During the first hours of today’s Asian trading session, the price went down a bit, though. Then, in the morning, it started rising. If the buyers continue generating sufficient demand, the price might go up above 4300 today. But if the bears counterattack, the price could even drop below 4280 and reach the Pivot Point.
NASDAQ 100
NASDAQ 100 also showed some real strength on Friday. After rising strongly for hours, the price reached the R1 resistance level and 14600 in the early evening. However, during the last hours of the American trading session, it went down a bit. In consequence, the price finished the day a little below 14580.
During the first hours of today’s Asian trading session, the NASDAQ 100 dropped below 14520. Then, in the morning, the price started rising. Right now the bulls are attacking the Pivot Point. If they do it successfully, the price might go up above 14600 today. But if the bears counterattack, the price could even drop below 14500 and reach the S1 support level.
Dow Jones Industrial Average
The DJIA index was really strong on Friday as well. After rising significantly all day, the S&P 500 finished the last session of the week high above the R2 resistance level, slightly above 33800.
During the first hours of today’s Asian trading session, the price went down a bit, though. Then, in the morning, it started rising. If the buyers continue generating sufficient demand, the price might even reach 34000 today. But if the bears counterattack, the price could drop below 33700.
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