Yesterday all three American indices rose significantly. Today they are going up even more. From the data front, the U.S. Federal Open Market Committee (FOMC) minutes from the last meeting will be published. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
Yesterday was a good bullish session. The price rose significantly and finished the session high above the R1 resistance level, a little above the EMA 200. Today it is going up even more. The price is already above 4470. If the buyers continue generating firm demand, the price might rise above today’s R1 and reach 4500. But if the bears counterattack, the price could drop below the EMA 200.
NASDAQ 100
NASDAQ 100 was the strongest one yesterday. The price rose significantly and finished the session at the R2 resistance level, slightly below 14600. Today it is going up even more. If the buyers continue generating firm demand, the price might rise above today’s R1 and even reach 14800. But if the bears counterattack, the price could drop below the EMA 200 and reach the Pivot Point.
Dow Jones Industrial Average
The DJIA index also rose significantly yesterday. The price finished the session above the R1 resistance level, exactly at the EMA 200 slightly below 34900. Today it is going up even more. Right now the bulls are attacking 35000. If they do it successfully, the price might rise above today’s R1 and reach 35200. But if the bears counterattack, the price could drop below the EMA 200 and reach 34800.
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