On Friday the American indices performed differently. The S&P 500 rose and set the new all-time high, NASDAQ 100 also went up significantly, but the Dow Jones Industrial Average showed mixed sentiment. However, during today’s Asian trading session, the S&P 500 and the DJIA index dropped and the NASDAQ 100 is showing mixed sentiment. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
Friday was another bullish session. The S&P 500 managed to rise above 4460 and set the new all-time high. However, during today’s Asian trading session the price dropped to the S2 support level. After the beginning of today’s European session, the price started rising though, and now it is at the S1. If the buyers continue generating sufficient demand, the price might rise above the Pivot Point today and set the new all-time high. But if the bears counterattack, the price could return to the S2.
NASDAQ 100 also rose significantly on Friday. The price finished the week above 15100. Today it is showing mixed sentiment, though. If the buyers show their strength once again, the price might rise above the R1 resistance level today. But if the bears take control over the market, the price could drop to the S1 support level and the EMA 200.
Dow Jones Industrial Average
The DJIA index showed mixed sentiment on Friday. First, the price rose, set the new all-time high and tested the R1 resistance level. Then it dropped and finished the session slightly above the Pivot Point. Today it is going down, though. Right now the price is below the S1 support level. If the buyers don’t generate some serious appetite soon, the price could fall below the EMA 200. But if they do, the price might reach the Pivot Point.