On Friday the American indices managed to rise. Today, all three of them are showing mixed sentiment. 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, the S&P 500 went up above the EMA 200 and 4425. Then, at the beginning of the American trading session, the price started falling. 90 minutes later it even dropped to 4365. Right after that, the price started rising once again. In consequence, the S&P 500 finished the last session of the week a little below the Pivot Point, at 4415.
Today, the price is showing mixed sentiment and the volatility is rather low. If the buyers show their strength once again, the price might go up above 4430. But if the bears take control over the market, the price could drop below 4410 today.
NASDAQ 100
NASDAQ 100 also was really volatile on Friday. First, the price went up above the Pivot Point and 15040. Then, at the beginning of the American trading session, it started falling. 90 minutes later the price even dropped below 14760. Right after that, it started rising once again. In consequence, the NASDAQ 100 finished the last session of the week a little below 14980.
Today, the price is showing mixed sentiment and the volatility is rather low. If the buyers show their strength once again, the price might even reach today’s R1 resistance level and 15100. But if the bears take control over the market, the price could drop to today’s Pivot Point.
Dow Jones Industrial Average
The DJIA index was really volatile on Friday as well. First, the price went up above the Pivot Point and reached 34400. Then, at the beginning of the American trading session, it started falling. 90 minutes later the price even dropped to 34060. Right after that, it started rising once again. In consequence, the Dow Jones Industrial Average finished the last session of the week at 34380.
During today’s Asian trading session, the price managed to rise above 34480. Then, at the beginning of the European trading session, it started falling. If the buyers don’t generate some serious appetite soon, the price could drop to 34350 today. But if they do, the price might go up above 34500.
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