Yesterday the American indices performed differently. The S&P 500 and the NASDAQ 100 managed to rise, but the Dow Jones Industrial Average showed mixed sentiment. 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 great bullish session. After rising significantly for many hours, the S&P 500 went up above 4800 in the evening. However, it dropped a bit during the last 90 minutes of the American trading session. In consequence, the price finished the day slightly above the R1 resistance level, at 4790.
Today, the S&P 500 is rising even more. If the buyers continue generating sufficient demand, the price might return above 4800 and reach today’s R1. But if the bears counterattack, the price could fall below the Pivot Point and reach 4780.
NASDAQ 100
NASDAQ 100 also was really volatile yesterday. First, during the Asian trading session, the price managed to rise above 16850. Then, in the morning, it started falling. The price even dropped below the Pivot Point and 16810 at the beginning of the European trading session.
After that, it started rising strongly. The price even went up above the R2 resistance level and 16970 in the evening. However, it dropped a bit during the last 90 minutes of the American trading session. In consequence, the NASDAQ 100 finished the day a little above 16920.
Today, the price is rising even more. It is already above 16940. If the buyers continue generating sufficient demand, the price might even reach today’s R1 and 17000. But if the bears counterattack, the price could fall below the Pivot Point and reach 16850.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday as well. First, the price reached 37770. Then, in the afternoon, it started falling. In consequence, the price finished the first session of the week a little above the Pivot Point and 37660.
Today, the Dow Jones Industrial Average is rising even more. It is already 37680. If the buyers continue generating sufficient demand, the price might go up above today’s R1 resistance level and even reach 36800. But if the bears counterattack, the price could drop to today’s S1 support level and 37600.
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