Yesterday, the S&P 500 and NASDAQ 100 rose significantly, but the Dow Jones Industrial Average showed mixed sentiment. Today all three of them are going up strongly. From the data front the PPI index in September will be published. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
The S&P 500 rose significantly yesterday. The price finished the session at the R1 resistance level, slightly above 4350. Today it is going up even more. It’s already above today’s R1. If the buyers continue generating firm demand, the price might rise above the R2 and reach 4400. But if the bears counterattack, the price could drop to the EMA 200.
NASDAQ 100
NASDAQ 100 was the strongest one yesterday. The price finished the session significantly above the R1 resistance level. Today it is going up even more. It’s already above today’s R1. If the buyers continue generating firm demand, the price might even reach 15000 today. But if the bears counterattack, the price could drop to the EMA 200.
Dow Jones Industrial Average
The DJIA index was much weaker than the other two indices yesterday. The price showed mixed sentiment and finished the session at the Pivot Point. Today, it is rising significantly, though. Right now the bulls are attacking the R1 resistance level. If they do it successfully, the price might go up above the R2 and reach 34600 today. But if they fail, the price could drop to the Pivot Point.
SSL Secured