Yesterday was a good bullish session. All three American indices rose strongly and finished the day above their R1 resistance levels. Today the NASDAQ 100 is going up even more, the S&P 500 is showing mixed sentiment and the Dow Jones Industrial Average is falling. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
Yesterday was a great bullish session. The S&P 500 started rising strongly in the early afternoon and then it has been going up during almost the whole American trading session. In consequence, it finished the day high above the R1 resistance level, a little below 4170.
Today the price is showing mixed sentiment. The volatility is rather low, though. If the buyers show their strength once again, the price might reach 4180 today. But if the bears take control over the market, the price could drop to 4160.
NASDAQ 100 also rose strongly yesterday. The price started going up at a really fast pace in the afternoon and in consequence it finished the session high above the R1 resistance level, at 13180.
Today, the price is rising even more. It is already above 13200. If the buyers continue generating firm demand, the price might reach 13250 today. But if the bears counterattack, the price could even drop to 13150.
Dow Jones Industrial Average
The DJIA index rose strongly yesterday as well. The price finished the session high above the R1 resistance level, at 34170. However, it is going down today. Right now the price is a little above 34100. If the buyers don;t generate some serious appetite soon, the price could even drop below the Pivot Point and reach 34000. But if they do, the price might return above 34150.