Daily Outlook for NASDAQ 100, S&P 500 and Dow Jones Industrial Average

Yesterday the American indices rose strongly. Today all three of them are going up even more. 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 great, bullish session. First, the S&P 500 dropped below 4425 and reached the Pivot Point, though. Then, in the early afternoon, the price started rising strongly. It even went up above the R4 resistance level and 4520 in the evening. However, the price fell a bit during the last 90 hours of the American trading session. In consequence, the S&P 500 finished the day a little below 4415.

Today, the price is rising even more. It is already above 4520. If the buyers continue generating sufficient demand, the price might even reach 4540 today. But if the bears counterattack, the price could drop below 4510.

NASDAQ 100

NASDAQ 100 also was really bullish yesterday. After rising strongly for many hours, the price went up above the R4 resistance level and 15910 in the evening. However, it dropped a bit during the last 90 hours of the American trading session. In consequence, the price finished the day slightly below the R4 and 15900.

Today, the NASDAQ 100 is rising even more. It is already above 15930. If the buyers continue generating sufficient demand, the price might even go up above 16000 today. But if the bears counterattack, the price could drop to 15850.

Dow Jones Industrial Average

The DJIA index was really bullish yesterday as well. First, the price dropped below the Pivot Point and 34340, though. Then, in the early afternoon, it started rising strongly. The price even went up above the R3 resistance level and reached 34980 in the evening. However, it dropped a bit during the last 90 hours of the American trading session. In consequence, the Dow Jones Industrial Average finished the day at 34910.

Today, the price is rising even more. It is already above 34970. If the buyers continue generating sufficient demand, the price might even reach 35100 today. But if the bears counterattack, the price could drop to 34850.