Yesterday the American indices rose significantly. Today the S&P 500 and the Dow Jones Industrial Average are going down, but the NASDAQ 100 is showing mixed sentiment. From the data front, all eyes will be focused on the U.S. Federal Open Market Committee’s interest rate decision and the press conference. Anyway, let’s start the analysis, S&P 500 first:
Yesterday was a good bullish session. The S&P 500 rose strongly and finished the day above the R1 resistance level, slightly below 4090. Today, it is going down a bit, though. If the buyers don’t generate some serious appetite soon, the price could drop below 4070 today. But if they do, the price might even reach 4100.
NASDAQ 100 also rose significantly yesterday. The price finished the session a little below 12120. Today it is showing mixed sentiment. If the buyers show their strength once again, the price might go up above 12200 and even reach the R1 resistance level. But if the bears take control over the market, the price could drop to the Pivot Point.
Dow Jones Industrial Average
The DJIA index rose strongly yesterday as well. The price finished the session above the R1 resistance level, slightly above 34120. Today, it is going down, though. If the buyers don’t generate some serious appetite soon, the price could drop below 34000 and reach the Pivot Point. But if they do, the price might reach 34200.