Yesterday the American indices performed differently. The NASDAQ 100 managed to rise, but the S&P 500 and the Dow Jones Industrial Average went down. Today, the NASDAQ 100 is going up even more, but the Dow Jones Industrial Average and the S&P 500 are showing mixed sentiment. 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 Pivot Point and 4770. Then, at the beginning of the American trading session, the price started rising. It even went up above 4800 in the early evening. However, during the last three hours of the American trading session, the price dropped a bit. In consequence, the S&P 500 finished the day at 4790.
During today’s Asian trading session, the price reached the Pivot Point. Then, in the morning, it started rising. If the buyers continue generating sufficient demand, the price might go up above 4800 and even reach today’s R1 resistance level. But if the bears counterattack, the price could drop below 4780 and reach the EMA 200 today.
NASDAQ 100
NASDAQ 100 also was really volatile yesterday. First, the price dropped below 16660 and reached the Pivot Point. Then, at the beginning of the American trading session, it started rising. The price even went up above 16860 in the early evening. However, during the last three hours of the American trading session, the price dropped a bit. In consequence, the NASDAQ 100 finished the day a little below 16830.
Today, the price is rising. It is already above 16850. If the buyers continue generating sufficient demand, the price might reach 16900 today. But if the bears counterattack, the price could even drop below 16790 and reach the Pivot Point.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday as well. First, the price dropped below 37610. Then, at the beginning of the American trading session, it started rising. The price managed to return above the Pivot Point and reached 37800 in the early evening. However, during the last three hours of the American trading session, the price dropped a bit. In consequence, the Dow Jones Industrial Average finished the day a little below 37740.
During the first hours of today’s Asian trading session, the price rose above 37760 and reached the EMA 200. Then, it started falling. The price is already below 37720. If the buyers don’t generate some serious appetite soon, the price could even drop below 37650 today. But if they do, the price might rise above the EMA 200 and reach 37800.
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