Yesterday the American indices performed differently. The NASDAQ 100 went down, the Dow Jones Industrial Average managed to rise and the S&P 500 showed mixed sentiment. Today, all three of them are rising strongly. 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, during the Asian trading session, the S&P 500 managed to rise above 5180. Then, at the beginning of the European trading session, the price started falling. It even dropped below the Pivot Point and 5155 in the evening. However, during the last 90 minutes of the American trading session, the price managed to rise. In consequence, the S&P 500 finished the day a little above 5170.
Today, the price opened 50 pips higher and has been going up since then. It is already above 5245. If the buyers continue generating firm demand, the price might even reach 5260 today. But if the bears counterattack, the price could return below 5220.
NASDAQ 100
NASDAQ 100 also was really volatile yesterday. First, during the Asian trading session, the price managed to rise above 18250. Then, at the beginning of the European trading session, it started falling significantly. The price even dropped below 18040 at the beginning of the American trading session. After that, it started rising once again. In consequence, the NASDAQ 100 finished the day a little above 18100.
Today, the price opened 250 pips higher and has been going up since then. It is already above 18410. If the buyers continue generating firm demand, the price might even reach 18500 today. But if the bears counterattack, the price could return below 18320.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday as well. First, during the early hours of the Asian trading session, the price dropped below 38980. Then, it started rising significantly. The price even went up above the R1 resistance level and 39220 in the late afternoon.
After that, it started falling once again. The price even reached 38950 in the evening. However, during the last 90 minutes of the American trading session, it managed to rise. In consequence, the Dow Jones Industrial Average finished the day a little below 39100.
Today, the price opened 450 pips higher and has been going up since then. It is already above 39630. If the buyers continue generating firm demand, the price might even reach 39800 today. But if the bears counterattack, the price could return below 39500.
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