On Friday the American indices performed differently. The S&P 500 and the NASDAQ 100 went down, but the Dow Jones Industrial Average managed to rise a bit. Today, the NASDAQ 100 is still falling, but the S&P 500 and the DJIA index 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
Friday was a really interesting session. First, during the Asian trading session, the S&P 500 managed to rise above the Pivot Point and reached 4390. Then, at the beginning of the European trading session, it started falling. The price even dropped below 4370 at noon. After that, it started rising strongly. The price even went up above 4390 at the beginning of the American trading session. Right after that, it started falling heavily, though. The price even dropped below the S1 support level and reached 4340 in the evening. However, during the last two hours of the American trading session, it managed to rise once again. In consequence, the S&P 500 finished the day slightly below 4360.
During today’s Asian trading session, the price managed to rise above 4370. Then, at the beginning of today’s European trading session, it started falling. If the buyers don’t generate some serious appetite soon, the price could even drop to 4340 today. But if they do, the price might return above the Pivot Point and reach 4370.
NASDAQ 100
NASDAQ 100 also was really volatile on Friday. First, during the early hours of the Asian trading session, the price managed to rise above the Pivot Point and 15340. Then, it started falling. The price even dropped below 15220 at noon. After that, it started rising strongly. The price even went up above 15360 at the beginning of the American trading session. Right after that, it started falling heavily, though. The price even dropped below the S1 support level and 15070 in the evening. However, during the last two hours of the American trading session, it managed to rise once again. In consequence, the NASDAQ 100 finished the day at 15120.
During the first hours of today’s Asian trading session, the price managed to rise above 15180 and reached the Pivot Point. Then, at the beginning of today’s European trading session, it started falling. If the buyers don’t generate some serious appetite soon, the price could even drop to 15050 today. But if they do, the price might return above 15150.
Dow Jones Industrial Average
The DJIA index was the strongest one on Friday. First, during the Asian trading session, the price managed to rise above the Pivot Point and reached 38900. Then, at the beginning of the European trading session, it started falling. The price even dropped below 33740 at noon. After that, it started rising strongly. The price even went up above the R1 resistance level and 34050 at the beginning of the American trading session. Right after that, it started falling heavily, though. The price even reached 33700 in the evening. However, during the last two hours of the American trading session, it managed to rise once again. In consequence, the Dow Jones Industrial Average finished the day exactly at the EMA 200 and 33830.
During the first hours of today’s Asian trading session, the price reached 33900. Then, it started falling. The price even dropped below the EMA 200 and reached 33820 in the morning. After that, it started rising one more time. If the buyers continue generating sufficient demand, the price might even reach 34000 today. But if the bears counterattack, the price could drop to the EMA 200.
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