Yesterday was a really volatile session. All three American indices showed mixed sentiment in the end. Today, they are rising significantly, though. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
The S&P 500 was really volatile yesterday. First the price went down and tested the S1 support level. Then it rose high above the Pivot Point and tested the EMA 200. In the evening the price dropped significantly one more time and finished the session slightly above 4150. Today it is rising strongly, though. The price is already above 4210. If the buyers continue generating firm demand, the price might rise above the R1 resistance level and reach the EMA 200 today. But if the bears counterattack, the price could fall below the Pivot Point and 4190.
NASDAQ 100
NASDAQ 100 was also really volatile yesterday. The price showed mixed sentiment and in the end it finished the session slightly above 13210. However, the price is rising strongly today. It’s already above 13440. If the buyers continue generating firm demand, the price might rise above the R1 resistance level and reach the EMA 200 today. But if the bears counterattack, the price could fall below the Pivot Point and reach 13300.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday as well. First the price went down below the S1 support level. Then it rose above the EMA 200 and the R1 resistance level. In the evening the price dropped significantly one more time and finished the session slightly above 32500. Today it is rising strongly, though. Right now the price is getting close to 33000. If the buyers continue generating firm demand, the price might rise above the EMA 200 and today’s R1. But if the bears counterattack, the price could fall below the Pivot Point and 32700.
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