Yesterday was a great bullish session for the American indices. All three of them finished the day above their R1 resistance levels. Today, they are showing mixed sentiment and the volatility is rather low. From the data front, all eyes will be focused on the nonfarm payrolls in September. Anyway, let’s start the analysis, S&P 500 first:
S&P 500
The S&P 500 rose significantly yesterday. The price finished the session above the R1 resistance level, slightly below 4400. Today it is showing mixed sentiment and the volatility is really low. If the buyers show their strength once again, the price might reach the R1 today. But if the bears take control over the market, the price could drop to the S1 support level and the EMA 200.
NASDAQ 100
NASDAQ 100 also rose significantly yesterday. The price finished the session above the R1 resistance level, slightly below 14900. However, it is going down a bit today, though. If the buyers don’t generate some serious appetite, the price could drop below the S1 support level and the EMA 200. But if they do, the price might reach today’s R1 and 15000.
Dow Jones Industrial Average
The DJIA index was the strongest one yesterday. The price rose significantly and finished the session slightly below the R2 resistance level. Today it is showing mixed sentiment and the volatility is really low. If the buyers show their strength once again, the price might reach the R1 today. But if the bears take control over the market, the price could drop to the S1 support level and the EMA 200.
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