Yesterday the American indices rose significantly. Today all three of them are going up even more. From the data front, all eyes will be focused on the nonfarm payrolls and the unemployment rate in May. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
Yesterday was a good bullish session. First, the S&P 500 went up above the EMA 200 and 4200. Then, in the early afternoon, the price dropped below 4180. However, at the beginning of the American trading session, it started rising strongly. The price even rose above the R2 resistance level in the evening. During the last two hours of the American trading session it went down a bit, though. In consequence, the S&P 500 finished the day a little above 4230.
Today the price is rising even more. It is already above 4240. If the buyers continue generating firm demand, the price might go up above 4250. But if the bears counterattack, the price could drop to 4230 today.
NASDAQ 100
NASDAQ 100 also showed some real strength yesterday. The price started rising significantly at the beginning of the American trading session. It even rose above the R2 resistance level and 14520 in the evening. During the last two hours of the American trading session the price went down a bit, though. In consequence, the NASDAQ 100 finished the day a little below the R2 and 14500.
Today the price is rising slowly. If the buyers continue generating sufficient demand, the price might even reach 14600. But if the bears counterattack, the price could drop to the Pivot Point today.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday. First, the price managed to rise above the EMA 200 and 33000. Then, in the early afternoon, it dropped below the S1 support level and 32800. However, at the beginning of the American trading session, it started rising strongly. The price even reached the R2 resistance level and 33200 in the evening. During the last two hours of the American trading session it went down a bit, though. In consequence, the Dow Jones Industrial Average finished the day slightly above 33100.
Today the price is rising even more. It is already above 33200. If the buyers continue generating firm demand, the price might go up above 33300. But if the bears counterattack, the price could drop to 33100 today.
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