On Friday the American indices dropped heavily. Today, all three of them are rising slowly. The volatility is rather low, though. 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 4565. Then, at the beginning of the European trading session, it started falling heavily. In consequence, the price finished the day slightly below the S2 support level and 4500.
Today, the S&P 500 is rising slowly, though. The price is already above 4505. If the buyers continue generating sufficient demand, the price might go up above the EMA 200 and reach the Pivot Point today. But if the bears counterattack, the price could even drop to 4490.
NASDAQ 100
NASDAQ 100 also was really volatile on Friday. First, during the Asian trading session, the price managed to rise above 15710. Then, at the beginning of the European trading session, it started falling heavily. The price even dropped below the S2 support level and 13560 in the evening. However, during the last 90 minutes of the American trading session, it managed to rise a bit. In consequence, the NASDAQ 100 finished the day slightly below 15400.
Today, the price is rising slowly. The volatility is rather low, though. If the buyers continue generating sufficient demand, the price might even reach the Pivot Point and the EMA 200 today. But if the bears counterattack, the price could drop below 15350.
Dow Jones Industrial Average
The DJIA index was really volatile on Friday as well. First, the price managed to rise above 35350. Then, in the early afternoon, it started falling heavily. In consequence, the price finished the last session of the week significantly below the S2 support level, a little below the EMA 200, at 34930.
Today, the Dow Jones Industrial Average is rising slowly. The volatility is rather low, though. If the buyers continue generating sufficient demand, the price might go up above 35000 and even reach the Pivot Point. But if the bears counterattack, the price could drop to 34900.
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