Yesterday was a great bullish session. The American indices rose strongly. However, all three of them are going down today. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
Yesterday was a fantastic bullish session. After rising strongly all day, the S&P 500 finished the session high above the R2 resistance level, slightly below 4160. However, the price is going down today. If the buyers don’t generate some serious appetite soon, the price could even drop to the Pivot Point and 4130. But if they do, the price might return above 4150.
NASDAQ 100 also rose strongly yesterday. The price finished the session slightly above the R3 resistance level, at 13260. However, it opened 55 pips lower today and has been showing mixed sentiment since then. If the buyers don’t generate some serious appetite soon, the price could drop to the Pivot Point and 13150 today. But if they do, the price might return above 13250.
Dow Jones Industrial Average
The DJIA index rose strongly yesterday as well. In the evening the price even went up above the R2 resistance level and 33950. However, it fell a bit during the last two hours of the American trading session. In consequence the price finished the day a little below 33900.
It is going down today, though. If the buyers don’t generate some serious appetite soon, the price could even drop below the Pivot Point and the EMA 200. But if they do, the price might reach 33900.