On Friday the American indices rose strongly. After the weekend, all three of them opened significantly higher, but then they went down a bit. Today, the NASDAQ 100 is rising, but the S&P 500 and the Dow Jones Industrial Average 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 great bullish session. However, during the first hours of the Asian trading session, the S&P 500 went down below 4150. After that, the price started rising strongly. In consequence, it finished the last session of the week high above the R2 resistance level, slightly above 4210.
After the weekend, the S&P 500 opened 15 pips higher. Then, the price started going down and reached 4220. This morning it started rising, though. If the buyers continue generating sufficient demand, the price might even reach today’s R2 resistance level and 4240. But if they fail, the price could drop below today’s S2 support level and reach 4210.
NASDAQ 100
NASDAQ 100 also was really volatile yesterday. First, during the first hours of the Asian trading session, the price went down below the Pivot Point. After that, it started rising strongly. In consequence, the price finished the last session of the week high above the R2 resistance level, a little above 14330.
After the weekend, the NASDAQ 100 opened 100 pips higher. Then, the price was going down and dropped below 14370. However, it started rising yesterday in the afternoon. The price is already above 14420. If the buyers continue generating firm demand, the price might even reach today’s R2 resistance level. But if they fail, the price could drop below today’s S1 support level and reach 14350.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday as well. First, during the first hours of the Asian trading session, the price went down below the Pivot Point. After that, it started rising strongly. The price even reached 33200 in the afternoon. Then, it dropped below the R2 resistance level and 33100, though. However, in the evening, the price managed to go up once again. In consequence, the Dow Jones Industrial Average finished the last session of the week above the R2 and 33100.
After the weekend, the price opened 140 pips higher. Then, it started going down. The price even dropped today’s S1 support level and 33150 this morning. After that, it started rising, though. If the buyers continue generating sufficient demand, the price might reach 33250 today. But if they fail, the price could drop to today’s S2 and 33100.
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