Yesterday all three American indices rose strongly. Today they are going down, though. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
Yesterday was a good bullish session. The S&P 500 rose strongly and finished the day high above the R1 resistance level, at 4275. However, it is going down today. Right now the bears are attacking the Pivot Point. If they do it successfully, the price could even fall to 4200. But if the bulls counterattack, the price might bounce and reach 4300.
NASDAQ 100
NASDAQ 100 also rose strongly yesterday. The price finished the session high above the R1 resistance level, slightly above 13750. However, it is going down today. If the buyers don’t generate some serious appetite soon, the price could even fall below 13500. But if they do, the price might bounce and reach 13800.
Dow Jones Industrial Average
The DJIA index rose strongly yesterday as well. The price finished the session significantly above the R1 resistance level, slightly above 33200. However, it is going down today. Right now the bears are attacking the Pivot Point. If they do it successfully, the price could drop below 32900. But if the bulls counterattack, the price might bounce and reach 33400.
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