Yesterday was a great bullish session for the American indices. All three of them rose strongly, the S&P 500 and the Dow Jones Industrial Average even set their new all-time highs. Today all three indices are going up even more. From the data front, new home sales in September and the CB consumer confidence in October will be published. Anyway, let’s start the analysis, S&P 500 first:
S&P 500
Yesterday was a good bullish session. The S&P 500 rose high above the R1 resistance level and set the new all-time high. Today it is going up even more. If the buyers continue generating firm demand, the price might reach 4590 today. But if the bears counterattack, the price could drop below 4560.
NASDAQ 100
NASDAQ 100 also rose strongly yesterday. The price rose high above the R1 resistance level and finished the session at 15530, slightly below the R2. Today it is going up even more. If the buyers continue generating firm demand, the price might reach 15700 today. But if the bears counterattack, the price could drop to 15500.
Dow Jones Industrial Average
The DJIA index rose strongly yesterday as well. The price set the new all-time high and finished the session slightly below the R1 resistance level. Today it is going up even more. If the buyers continue generating firm demand, the price might rise above the R1 today. But if the bears counterattack, the price could drop to the Pivot Point.
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