Yesterday was a good bullish session. All three American indices rose significantly. 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 good bullish session. The S&P 500 rose strongly and finished the session high above the R1 resistance level, slightly above 3690. 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 rise above 3760 today. But if they fail, the price could drop below 3720.
NASDAQ 100
NASDAQ 100 also rose strongly yesterday. The price finished the session above the R1 resistance level, a little below 11310. Today it is going up even more. The price is already above today’s R1 and 11480. If the buyers continue generating firm demand, the price might even reach 11600 today. But if the bears counterattack, the price could drop to 11350.
Dow Jones Industrial Average
The DJIA index rose strongly yesterday as well. The price finished the session high above the R1 resistance level, a little below 29570. Today it is going up even more. The price is already above 29900. If the buyers continue generating firm demand, the price might rise above today’s R1 and even reach 30000. But if the bears counterattack, the price could drop to 29700.
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