Yesterday was a great bullish session. All three American indices rose strongly. 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
Yesterday was a great bullish session. The S&P 500 rose strongly and finished the day high above the R2 resistance level, slightly below 4060. Today it is going up even more. If the buyers continue generating firm demand, the price might rise above today’s R1 and reach 4080. But if the bears counterattack, the price could return below 4060.
NASDAQ 100
NASDAQ 100 also rose strongly yesterday. The price finished the session above the R2 resistance level, at 12960. Today it is going up even more. If the buyers continue generating firm demand, the price might reach 13050. But if the bears counterattack, the price could drop below 12960 today.
Dow Jones Industrial Average
The DJIA index rose strongly yesterday as well. The price finished the session slightly below the R2 resistance level, at 32900. Today it is going up even more. The price is already above today’s R1 and 33000. If the buyers continue generating firm demand, the price might reach 33100 today. But if the bears counterattack, the price could return below 32950.
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