Yesterday all three American indices rose strongly. Today they are still going up, but at a much slower pace. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
The S&P 500 rose strongly yesterday. The price finished the session slightly above the R2 resistance level, a little below 4440. Today it is still going up, but the volatility is rather low. If the buyers continue generating sufficient demand, the price might rise above 4460 today. But if the bears counterattack, the price could drop below the Pivot Point and reach the EMA 200.
NASDAQ 100
NASDAQ 100 also rose strongly yesterday. The price finished the session slightly above the R1 resistance level, slightly below 14100. Today it is going up even more. If the buyers continue generating sufficient demand, the price might rise above 14200 today. But if the bears counterattack, the price could drop below the Pivot Point and the EMA 200.
Dow Jones Industrial Average
The DJIA index rose strongly yesterday as well. The price finished the session slightly above the R2 resistance level slightly below 34800. Today it is showing mixed sentiment. If the buyers show their strength once again, the price might reach 35000 today. But if the bears take control over the market, the price could drop to the Pivot Point.
SSL Secured