On Friday the American indices showed mixed sentiment. Today, all three of them are rising strongly, though. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
Friday was a really interesting session. First, during the Asian trading session, the S&P 500 rose above 4465. Then, at the beginning of the European trading session, the price started falling. Two hours later it dropped below 4445. However, at noon, the price started rising once again. It even went up above the R1 resistance level and the EMA 200 at the beginning of the American trading session. Right after that, the price started falling, though. It even dropped below the Pivot Point in the evening. However, during the last 30 minutes of the American trading session, the price managed to rise. In consequence, the S&P 500 finished the day at 4460.
Today, the price is rising strongly. It is already above today’s R1 and 4480. If the buyers continue generating firm demand, the price might even go up above 4490 and reach today’s R2. But if the bears counterattack, the price could return below the EMA 200.
NASDAQ 100
NASDAQ 100 also was really volatile on Friday. First, during the early hours of the Asian trading session, the price dropped below the Pivot Point and 15260. Then, it started rising. The price even went up above 15340 at the beginning of the European trading session. After that, it started falling once again. The price even dropped below 15230 in the early afternoon. Right after that, it started rising one more time, though. The price even went up above the EMA 200 and reached 15390 at the beginning of the American trading session. Then, it started falling. The price even dropped below the Pivot Point and 15260 in the evening. However, during the last 30 minutes of the American trading session, it managed to rise. In consequence, the NASDAQ 100 finished the day slightly below 15300.
Today, the price is rising strongly. It is already above today’s R1 and 15380. If the buyers continue generating firm demand, the price might even reach 15450 today. But if the bears counterattack, the price could return below the EMA 200 and 15350.
Dow Jones Industrial Average
The DJIA index was really volatile on Friday as well. First, during the Asian trading session the price managed to rise above 34620. It even reached the EMA 200 at the beginning of the European trading session. After that, the price started falling. It even dropped below 34450 at noon. Right after that, the price started rising once again. It even went up above the R1 resistance level and 34650 during the American trading session. In the late afternoon, the price started falling one more time, though. It even dropped to 34520 in the evening. However, during the last 30 minutes of the American trading session, the price managed to rise. In consequence, the Dow Jones Industrial Average finished the day at 34600, a little below the EMA 200.
During the first hours of today’s Asian trading session, the price dropped to 34580. Then, it started rising strongly. It is already above today’s R1 and 34700. If the buyers continue generating firm demand, the price might even go up above today’s R2 and reach 34800. But if the bears counterattack, the price could drop to 34650.
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