Yesterday the American indices managed to rise. Today, the NASDAQ 100 is going up even more, but the S&P 500 and the Dow Jones Industrial Average are showing mixed sentiment. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
Yesterday was a really interesting session. First, the S&P 500 dropped below the Pivot Point and 4820. Then, in the afternoon, it started rising. In consequence, the price finished the session slightly above 4830.
During the first hours of today’s Asian trading session, the S&P 500 went up above 4840 and reached today’s R1 resistance level. Then, it started falling. If the buyers don’t generate some serious appetite soon, the price could drop below 4830 and reach the Pivot Point today. But if they do, the price might even go up above 4845.
NASDAQ 100
NASDAQ 100 also was really volatile yesterday. First, the price managed to rise above 17120. Then, at the beginning of the American trading session, it started falling. 30 minutes later, the price even dropped below the Pivot Point and 17060. After that, it started rising once again. In consequence, the NASDAQ 100 finished the session a little below 17130.
Today, the price is going up even more. Right now the bulls are attacking 17150 and today’s R1 resistance level. If they do it successfully, the price might even rise above 17200 today. But if they fail, the price could drop to the Pivot Point.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday as well. First, the price dropped below the Pivot Point and 37820. Then, at the beginning of the American trading session, it started rising significantly. In consequence, the price finished the day a little below the R1 resistance level, at 38000.
During the first hours of today’s Asian trading session, the Dow Jones Industrial Average managed to rise above 38030. Then, it started falling significantly. If the buyers don’t generate some serious appetite soon, the price could drop below the Pivot Point and reach 37900 today. But if they do, the price might go up above 38050 and even reach today’s R1.
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