Yesterday the American indices performed differently. The S&P 500 and the NASDAQ 100 rose significantly, but the Dow Jones Industrial Average went down a bit. Today, all three of them are going up. 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 volatile session. First, at the beginning of the European trading session, the S&P 500 dropped significantly and reached the S1 support level. Then, in the afternoon, the price rose above the R2 resistance level and 4170. After that, during the American trading session, it fell below the S2 and 4120. In the evening, the price went up strongly once again, though. In consequence, the S&P 500 finished the session above the R1 and 4150.
Today, it is still rising. The price is already above 4160. If the buyers continue generating firm demand, the price might even reach 4180 today. But if the bears counterattack, the price could drop below 4150.
NASDAQ 100
NASDAQ 100 also was really volatile yesterday. First, at the beginning of the European trading session, the price dropped significantly and reached the S1 support level. Then, in the afternoon, it rose above the R2 resistance level and 13400. After that, during the American trading session, the price fell below the Pivot Point. In the evening, it went up strongly once again, though. In consequence, the NASDAQ 100 finished the session above the R2 and 13400.
Today, it is rising slowly. If the buyers continue generating sufficient demand, the price might reach 13500. But if the bears counterattack, the price could drop below 13400 today.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday as well. First, at the beginning of the European trading session, the price dropped significantly and reached the S1 support level. Then, in the afternoon, it rose above 33800 and reached the R2 resistance level. After that, during the American trading session, it fell significantly below the S2 and reached 33300. In the evening, it went up once again, though. In consequence, the Dow Jones Industrial Average finished the session slightly below 33600.
Today, it is still rising. The price is already above 33650. If the buyers continue generating firm demand, the price might even reach 33800 today. But if the bears counterattack, the price could drop below the Pivot Point and reach 33550.
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