On Friday all three American indices rose strongly and finished the session above their R2 resistance levels. 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 on Friday. The price finished the last session of the week above the R2 resistance level and 4150. Today it is going up even more. Right now the bulls are attacking today’s R1, the price is already above 4190. If they do it successfully, the price might even reach 4220 today. But if they fail, the price could drop to 4150.
NASDAQ 100
NASDAQ 100 also rose strongly on Friday. The price finished the last session of the week slightly above the R2 resistance level and 12680. Today it is going up even more.The price is already above today’s R1 and 12850. If the buyers continue generating firm demand, the price might rise above 12900 today. But if the bears counterattack, the price could return below 12700.
Dow Jones Industrial Average
The DJIA index rose strongly on Friday as well. The price finished the last session of the week exactly at the R2 resistance level, above 33150. Today it is going up even more. Right now the bulls are attacking today’s R1. If they do it successfully, the price might even reach 33500 today. But if the bears counterattack, the price could return below 33200.
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