Yesterday the American indices managed to rise a bit. 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 really interesting session. First, the S&P 500 managed to rise above the Pivot Point and reach 4525. Then, at the beginning of the American trading session, the price started falling. Two hours later, it even dropped below the S1 support level and 4505. After that, the price started going up once again. In consequence, the S&P 500 finished the session slightly above 4525.
Today, the price is rising even more. It is already above 4530. If the buyers continue generating sufficient demand, the price might go up above 4540 and reach today’s R2 resistance level. But if the bears counterattack, the price could fall below today’s Pivot Point and reach today’s S1.
NASDAQ 100
NASDAQ 100 also was pretty volatile yesterday. First, during the early hours of the Asian trading session, the price reached 15880. Then, it started falling. 90 minutes later, the price dropped below 15830. After that, it started rising once again. The price even went up above 15900 at the beginning of the American trading session.
Right after that, it started falling one more time, though. Two hours later, the price even dropped below 15800. However, in the late afternoon and in the evening, it managed to rise. In consequence, the NASDAQ 100 finished the session a little below 15900.
During today’s Asian trading session, the price dropped below 15880. 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 15950 and reach today’s R2 resistance level. But if the bears counterattack, the price could fall below the Pivot Point and reach 15850.
Dow Jones Industrial Average
The DJIA index showed mixed sentiment yesterday as well. First, during the early hours of the Asian trading session, the price managed to rise above 35050. Then, it started falling. 90 minutes later, the price dropped below the Pivot Point and reached 34970. After that, it started rising again. The price even went up above 35070 at the beginning of the European trading session.
Right after that, it started falling one more time, though. The price even dropped below 34950 in the early afternoon. Then, it started rising once again. The price even reached 35090 at the beginning of the American trading session. After that, it started falling significantly, though. The price even dropped below the S1 support level and 34900 in the evening. However, during the last two hours of the American trading session, it managed to rise. In consequence, the Dow Jones Industrial Average finished the day a little above 35050.
During today’s Asian trading session, the price reached 35020. 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 today’s R1 resistance level and reach 35200. But if the bears counterattack, the price could reach the Pivot Point and 35000.
SSL Secured