Yesterday the American indices went down. Today all three of them are rising, though. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
The S&P 500 went down yesterday. The price finished the session slightly above 3970. Today, it is rising, though. If the buyers continue generating firm demand, the price might go up above the R1 resistance level and 4010. But if the bears counterattack, the price could return below 3980.
NASDAQ 100
NASDAQ 100 also went down a bit yesterday. The price finished the session exactly at the Pivot Point, slightly below 11770. Today, it is rising, though. If the buyers continue generating firm demand, the price might go up above the R1 resistance level and reach 11900. But if the bears counterattack, the price could drop below the Pivot Point and reach 11750.
Dow Jones Industrial Average
The DJIA index went down yesterday as well. The price finished the session slightly above 33600. Today, it is rising, though. Right now the bulls are attacking the Pivot Point. If they do do it successfully, the price might even go up above the R1 resistance level and reach 33900. But if they fail, the price could drop below 33600.
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