Yesterday the American indices performed differently. The NASDAQ 100 managed to rise, the Dow Jones Industrial Average went down and the S&P 500 showed mixed sentiment. Today all three of them are rising slowly, though. From the data front, the GDP in Q4 will be published. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
Yesterday was a really interesting session. First, the S&P 500 rose above the R2 resistance level and 4930. Then, in the early evening, the price started falling. It even dropped below the Pivot Point and 4890 in the late evening. However, during the last 30 minutes of the American trading session, the price managed to rise a bit. In consequence, the S&P 500 finished the day at 4900.
Today, the price is rising slowly. If the buyers continue generating sufficient demand, the price might go up above the Pivot Point and reach 4920. But if the bears counterattack, the price could drop to today’s S1 support level and 4880.
NASDAQ 100
NASDAQ 100 was the strongest one yesterday. First, the price rose above the R2 resistance level and 17790. Then, in the early evening, it started falling. The price reached 17570 in the late evening. However, during the last 30 minutes of the American trading session, it managed to rise a bit. In consequence, the NASDAQ 100 finished the day exactly at the R1 and 17630.
During the first hours of today’s Asian trading session, the price dropped below 17590. Then, it started rising. The price is already above 17640. If the buyers continue generating sufficient demand, the price might go up above 17700 today. But if the bears counterattack, the price could even drop to 17550.
Dow Jones Industrial Average
The DJIA index was the weakest one yesterday. First, the price managed to rise above the R1 resistance level and reached 38250, though. Then, at the beginning of the American trading session, it started falling. The price even dropped below the S1 support level and reached 37950 in the evening. However, during the last 30 minutes of the American trading session, it managed to rise a bit. In consequence, the Dow Jones Industrial Average finished the day slightly above 38040.
Today, the price is rising slowly. Right now the bulls are attacking the Pivot Point. If they do it successfully, the price might reach 38150. But if they fail, the price could drop below the EMA 200 and 38000 today.
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