Yesterday was a great bullish session. All three American indices rose strongly and finished the day above their R1 resistance levels. Today they are going up even more. 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 significantly and finished the session above the R1 resistance level, slightly below 4260. Today it is going up even more. The price is already above 4300. Right now the bulls are attacking today’s R1. If they do it successfully, the price might reach 4330 today. But if they fail, the price could return below 4260.
NASDAQ 100
NASDAQ 100 also rose significantly yesterday. The price finished the session above the R1 resistance level, at 13450. Today it is going up even more. The price is already above today’s R1 and 13650. If the buyers continue generating firm demand, the price might even reach today’s R2 and 13850. But if the bears counterattack, the price could drop below 13500.
Dow Jones Industrial Average
The DJIA index rose significantly yesterday as well. The price finished the session above the R1 resistance level, a little below 33500. Today it is going up even more. The price is already above 33800. Right now the bulls are attacking today’s R1. If they do it successfully, the price might reach 34000 today. But if they fail, the price could drop below 33600.
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