Yesterday was a really volatile session. In the end all three American indices went down. Today they are rising, though. 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 really interesting session. First the S&P 500 managed to rise. In the evening the price even went up above the EMA 200 and 4160. However, during the last two hours of the American trading session, it dropped heavily. In consequence, the price finished the day exactly at the S1 support level, slightly below 4100.
Today, the S&P 500 is rising, though. The price is already above the Pivot Point and 4110. If the buyers continue generating firm demand, the price might go up above 4130 today. But if the bears counterattack, the price could drop below 4100.
NASDAQ 100
NASDAQ 100 was also really volatile yesterday. First the price managed to rise. In the evening it even reached the R1 resistance level and 13300. However, during the last two hours of the American trading session, the price dropped heavily. In consequence, the NASDAQ 100 finished the day slightly below 13100.
Today, the price is rising, though. It is already above the Pivot Point and 13150. If the buyers continue generating firm demand, the price might go up above the EMA 200 and reach 13200 today. But if the bears counterattack, the price could drop to 13100.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday as well. First the price managed to rise. In the evening it even reached the EMA 200 and 33900. However, during the last two hours of the American trading session, the price dropped heavily. In consequence, it finished the day slightly below the S1 support level, a little above 33400.
Today, the DJIA index is rising, though. The price is already above the Pivot Point and 33500. If the buyers continue generating firm demand, the price might even reach 33900 today. But if the bears counterattack, the price could drop below 33400.
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