Yesterday the American indices dropped significantly. Today all three of them are rising, though. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
The S&P 500 dropped significantly yesterday. The price finished the session slightly above the S1 support level, a little below 3660. However, it is rising today. The price is already above 3680. If the buyers continue generating firm demand, the price might go up above the EMA 200 and 3700. But if the bears counterattack, the price could return below the Pivot Point and 3760.
NASDAQ 100
NASDAQ 100 also dropped heavily yesterday. The price finished the session below the S1 support level, slightly above 11220. However, it is rising today. If the buyers continue generating firm demand, the price might go up above the EMA 200 and 11400. But if the bears counterattack, the price could return below the Pivot Point and 11300.
Dow Jones Industrial Average
The DJIA index dropped significantly yesterday as well. The price finished the session a little above 29260. However, it is rising today. If the buyers continue generating firm demand, the price might go up above the EMA 200 and reach 29600. But if the bears counterattack, the price could return below the Pivot Point and reach 29350.
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