Yesterday the American indices rose strongly once again. Today all three of them are going up even more. From the data front, the CPI and core CPI in May will be published. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
Yesterday was a great bullish session. The S&P 500 started rising strongly in the afternoon. In consequence, the price finished the session a little below the R2 resistance level, slightly below 4350. Today it is going up even more. If the buyers continue generating firm demand, the price might rise above today’s R1 and even reach 4370. But if the bears counterattack, the price could return below 4350.
NASDAQ 100
NASDAQ 100 was the strongest one yesterday. After rising significantly since morning, the price finished the session above the R2 resistance level and 14820. Today it is going up even more. The price is already above 14880. If the buyers continue generating firm demand, the price might rise above today’s R1 and even reach 15000. But if the bears counterattack, the price could drop to 14800.
Dow Jones Industrial Average
The DJIA index was really strong yesterday as well. The price started rising significantly in the afternoon. In consequence, it finished the session high above the R1 resistance level, slightly below 34100. During today’s Asian trading session, the price went up above 34140. However, it started going down in the morning. If the buyers don’t generate some serious appetite soon, the price could drop to the Pivot Point today. But if they do, the price might rise above today’s R1 and evenreach 34200.
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