Yesterday was a good bullish session. All three American indices rose strongly. Today, they are going down a bit, though. From the data front, all eyes will be focused on the nonfarm payrolls and unemployment rate in June. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
The S&P 500 rose strongly yesterday. The price finished the session high above the R1 resistance level, a little below 3900. Today it is going down slowly, though. If the buyers don’t generate some serious appetite soon, the price could drop below 3870 today. But if they do, the price might reach 3920.
NASDAQ 100
NASDAQ 100 also rose strongly yesterday. The price finished the session at the R2 resistance level, a little below 12120. However, it is going down today. If the buyers don’t generate some serious appetite soon, the price could drop below the Pivot Point and 12000 today. But if they do, the price might even reach 12200.
Dow Jones Industrial Average
The DJIA index rose significantly yesterday as well. The price finished the session above the R1 resistance level and 31300. Today it is going down slowly, though. If the buyers don’t generate some serious appetite soon, the price could drop below the Pivot Point and 31200. But if they do, the price might rise above 31400.
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