Yesterday all three American indices managed to rise significantly. Today, the S&P 500 and the NASDAQ 100 are rising, but the Dow Jones Industrial Average is showing mixed sentiment. From the data front building permits in October 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 S&P 500 rose significantly and finished the session at the R1 resistance level, a little below 4700. Today, it is going up slowly. Right now the bulls are attacking 4700. If they do it successfully, the price might rise above 4710 and set the new all-time high today. But if the bears counterattack, the price could drop to the EMA 200.
NASDAQ 100
NASDAQ 100 also rose significantly yesterday. The price finished the session slightly above the R1 resistance level, a little below 16300. Today it is going up even more. If the buyers continue generating firm demand, the price might rise above 16400 today. But if the bears counterattack, the price could drop to the EMA 200.
Dow Jones Industrial Average
The DJIA index also managed to rise yesterday. The price finished the session above the Pivot Point, slightly below 36100. Today it is showing mixed sentiment. Right now the bulls are attacking the Pivot Point. If they do it successfully, the price might reach the R1 resistance level. But if they fail, the price could drop below 36000.
SSL Secured