Yesterday all three American indices rose significantly. Today they are going up even more. 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 above the R1 resistance level and the EMA 200, at 4260. Today it is going up even more. If the buyers continue generating firm demand, the price might even reach 4300 today. But if the bears counterattack, the price could drop below the Pivot Point and reach 4230.
NASDAQ 100
NASDAQ 100 also rose significantly yesterday. The price finished the session at the R1 resistance level, at 13300. Today it is going up even more. The price is already above the EMA 200 and 13360. If the buyers continue generating firm demand, the price might rise above 13500 and even reach today’s R1. But if the bears counterattack, the price could drop below 13200.
Dow Jones Industrial Average
The DJIA index rose strongly yesterday as well. The price finished the session significantly above the R1 resistance level and the EMA 200, slightly below 33800. Today it is going up even more. If the buyers continue generating firm demand, the price might reach 34000. But if the bears counterattack, the price could drop below the Pivot Point.
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