Yesterday the American indices went down. However, all three of them are rising today. 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 dropped heavily yesterday. The price finished the session below the S1 support level and 4450. However, it is rising today. If the buyers continue generating firm demand, the price might rise above the R1 resistance level and reach 4500 today. But if the bears counterattack, the price could fall to the EMA 200 and 4440.
NASDAQ 100
NASDAQ 100 also dropped significantly yesterday. The price finished the session slightly above 14450. However, it is rising today. If the buyers continue generating firm demand, the price might rise above the R1 resistance level and reach 14650 today. But if the bears counterattack, the price could fall to 14400.
Dow Jones Industrial Average
The DJIA index was the weakest one yesterday. The price dropped heavily and finished the session significantly below the S1 support level and the EMA 200, slightly above 34200. However, it is rising today. Right now the bulls are attacking the Pivot Point. If they do it successfully, the price might go up above 34500 today. But if they fail, the price could return below the EMA 200.
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