Yesterday the American indices performed differently. The S&P 500 and the NASDAQ 100 went down, but the Dow Jones Industrial Average managed to rise. Today, all three of them are going up, 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 dropped below the S1 support level and 4435. Then, at the beginning of the American trading session, it started rising. In consequence, the price finished the day slightly below 4460.
Today, the S&P 500 is going up even more. If the buyers continue generating sufficient demand, the price might rise above 4470 and reach today’s R1 resistance level. But if the bears counterattack, the price could drop below the Pivot Point and reach 4450.
NASDAQ 100
NASDAQ 100 was the weakest one yesterday. First, the price dropped below the S2 support level and 15160. Then, at the beginning of the American trading session, it started rising. In consequence, the price finished the day a little below the S1, slightly above 15280
During the first hours of today’s Asian trading session, the NASDAQ 100 dropped below 15260. Then, the price started rising. It is already above 15320. If the buyers continue generating firm demand, the price might even go up above the EMA 200 and reach today’s R1 resistance level and 15400. But if the bears counterattack, the price could return below the Pivot Point and 15270.
Dow Jones Industrial Average
The DJIA index was the strongest one yesterday. First, during the Asian trading session, the price dropped below 34380. Then, at the beginning of the European trading session, it started rising. The price even went up above the Pivot Point and 34520 right before noon. After that, it started falling once again. The price even dropped below 34370 in the early afternoon. However, at the beginning of the American trading session, it started rising significantly. In consequence, the Dow Jones Industrial Average finished the day a little below 34550.
During the first hours of today’s Asian trading session, the price dropped below 34520. Then, it started rising. If the buyers continue generating sufficient demand, the price might even go up above the EMA 200 and today’s R1 resistance level. But if the bears counterattack, the price could drop to 34500 and the Pivot Point.
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