Yesterday the American indices rose significantly. Today all three of them are showing mixed sentiment, though. 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 4370. Then, at the beginning of the European trading session, the price started falling. 90 minutes later, it even dropped below 4355. After that, the price started rising strongly. It even went up above the R1 resistance level and 4410 in the afternoon. Right after that, the price started falling slowly. In consequence, the S&P 500 finished the day at 4405.
During today’s Asian trading session, the price dropped below 4400. Then, at the beginning of the European trading session, it started rising. If the buyers continue generating sufficient demand, the price might even reach 4420 today. But if the bears counterattack, the price could fall below the Pivot Point and 4390.
NASDAQ 100
NASDAQ 100 also was really volatile yesterday. First, during the early hours of the Asian trading session, the price rose above 15180 and reached the Pivot Point. Then, it started falling. The price even dropped below 15090 at the beginning of the European trading session. After that, it started rising strongly. The price even went up above the R1 resistance level and 15330 in the evening. However, during the last 90 minutes of the American trading session, it fell a bit. In consequence, the NASDAQ 100 finished the day at the R1, a little above 15300.
During today’s Asian trading session, the price dropped below 15260. Then, at the beginning of the European trading session, it started rising. If the buyers continue generating sufficient demand, the price might even reach 15350 today. But if the bears counterattack, the price could fall to the Pivot Point and the EMA 200.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday as well. First, the price managed to rise above the R1 resistance level and reached 34250. Then, in the afternoon, it started falling. In consequence, the price finished the session a little above 34160.
During today’s Asian trading session, the Dow Jones Industrial Average reached the Pivot Point. Then, at the beginning of the European trading session, it started rising. If the buyers continue generating sufficient demand, the price might go up above 34200 today. But if the bears counterattack, the price could fall to 34000.
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