Yesterday the American indices performed differently. The S&P 500 and the NASDAQ 100 went down, but the Dow Jones Industrial Average managed to rise. Today all three of them are going up 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 an extremely volatile session. First, the S&P 500 dropped below the S1 support level and 4580. Then, in the evening, the price started rising strongly. One hour later, it even went up above the R1 resistance level and reached 4610. In the next hours, the price fell below 4575, though. Right after that, it started rising one more time. In consequence, the S&P 500 finished the session slightly above 4590.
Today, the price is rising strongly. It is already above today’s R1 and 4610. If the buyers continue generating firm demand, the price might even reach 4630 today. But if the bears counterattack, the price could return below 4610 and today’s R1.
NASDAQ 100
NASDAQ 100 also was really volatile yesterday. First, the price dropped below the S1 support level and 15520. Then, in the afternoon, it started rising significantly. In consequence, the price finished the session slightly above 15620.
Today, the NASDAQ 100 is rising strongly. It is already above today’s R1 resistance level and 15770. If the buyers continue generating firm demand, the price might even reach 15850 today. But if the bears counterattack, the price could drop to today’s R1.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday as well. First, during the Asian trading session, the price managed to rise above the Pivot Point and reached 35600. Then, at the beginning of the European trading session, it started falling. The price even dropped below the S1 support level and 35470 at the beginning of the American trading session. Right after that, it started rising strongly, though. The price even went up above the R2 resistance level and reached 35800 in the evening. However, during the last 90 minutes of the American trading session, the price fell once again. In consequence, the Dow Jones Industrial Average finished the day a little above 35630.
At the beginning of today’s Asian trading session, the price dropped to 35600. Then it started rising significantly. The price is already above 35730. If the buyers continue generating firm demand, the price might go up above today’s R1 and reach 35800. But if the bears counterattack, the price could drop to 35650.
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