Yesterday the American indices performed differently. The S&P 500 and the NASDAQ 100 went down, but the DJIA index showed mixed sentiment. Today all three of them are rising significantly, 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 early hours of the Asian trading session, the S&P 500 rose above the Pivot Point and 4400. Then, in the morning, the price started going down. It even dropped below 4380 at the beginning of the European trading session. After that, still before noon, the price started rising, though. It even returned above the Pivot Point and 4400 at the beginning of the American trading session. Right after that, the price started falling heavily, though. In consequence, the S&P 500 finished the session, slightly above the S1 support level and 4370.
Today the price is rising strongly, though. It is already above 4380. If the buyers continue generating firm demand, the price might even go up above 4390 and reach today’s R1 resistance level. But if the bears counterattack, the price could drop to 4370.
NASDAQ 100
NASDAQ 100 also was really volatile yesterday. First, during the early hours of the Asian trading session, the price rose above 15110. Then, in the morning, it started going down. The price even dropped below 15000 during the early hours of the European trading session. After that, still before noon, it started rising, though. The price even went up above the EMA 200 and reached 15150 at the beginning of the American trading session. Right after that, it started falling heavily, though. In consequence, the NASDAQ 100 finsished the session significantly below the S1 support level, a little above 14870.
Today the price is rising, though. It is already above 14910. If the buyers continue generating firm demand, the price might even go up above the Pivot Point and reach 15000 today. But if the bears counterattack, the price could drop to 14850.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday as well. First, during the early hours of the Asian trading session, the price rose above the Pivot Point and 34050. Then, in the morning, it started going down. The price even dropped below 33880 at the beginning of the European trading session. After that, still before noon, it started rising, though. The price even returned above the Pivot Point and reached 34050 at the beginning of the American trading session. Right after that, it started falling heavily, though. The price even dropped to 33850 one hour later. However, in the late afternoon, it started rising once again. The price even reached 34070 in the evening. During the last 90 minutes of the American trading session, it started going down one more time, though. In consequence, the Dow Jones Industrial Average finished the day a little below 34000.
Today the price is rising strongly, though. It is already above 34050. If the buyers continue generating firm demand, the price might even reach today’s R1 resistance level and 34100. But if the bears counterattack, the price could drop below 34000.
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