Yesterday the American indices managed to rise. Today the NASDAQ 100 is still going up, but the S&P 500 and the Dow Jones Industrial Average are showing mixed sentiment. 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 volatile session. First, the S&P 500 rose above 4150. Then, during the European trading session, the price dropped below 4130. After that, during the American trading session, it managed to go up once again. In consequence, the S&P 500 finished the day slightly below 4150.
During today’s Asian trading session the price was falling. However, it started rising strongly at the beginning of the European trading session. If the buyers continue generating sufficient demand, the price might go up above 4160 and even reach the R1 resistance level today. But if the bears counterattack, the price could drop below the Pivot Point, the EMA 200 and 4140.
NASDAQ 100
NASDAQ 100 also was really volatile yesterday. First, the price rose above 13440. Then, during the European trading session, it dropped below the EMA 200. After that, during the American trading session, the price managed to go up strongly. In consequence, the NASDAQ 100 finished the day a little above 13460.
During today’s Asian trading session the price was going down. However, it started rising significantly at the beginning of the European trading session. If the buyers continue generating sufficient demand, the price might go up above 13500 today. But if the bears counterattack, the price could drop to the Pivot Point.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday as well. First, the price rose significantly and reached the EMA 200. Then, in the early afternoon, it dropped below 33250. After that, during the American trading session, the price managed to go up once again. In consequence, the DJIA index finished the day slightly below 33400.
During today’s Asian trading session the price fell below 33300. However, it started rising significantly at the beginning of the European trading session. Right now the bulls are attacking the Pivot Point. If they do it successfully, the price might reach the EMA 200. But if the bears counterattack, the price could drop to 33250 today.
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