Yesterday was a great session for the American indices. All three of them rose strongly, the S&P 500 and NASDAQ 100 even set their new all time highs. Today, they are rising even more, but the volatility hasn’t increased. From the data front, new home sales in July will be published. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
Yesterday was a great bullish session. The S&P 500 rose high above the R1 resistance level and set the new all-time high. Today, the price is still going up, but the volatility is rather low. If the buyers continue generating sufficient demand, the price might even reach 4500 today. But if the bears counterattack, the price could drop to the Pivot Point.
NASDAQ 100
NASDAQ 100 was even stronger yesterday. The price rose above the R2 resistance level, set the new all-time high and finished the session above 15300. Today it is going up even more. If the buyers continue generating firm demand, the price might rise above today’s R1 and 15400. But if the bears counterattack, the price could drop to the Pivot Point.
Dow Jones Industrial Average
The DJIA index also rose strongly yesterday. The price finished the session high above the R1 resistance level. Today, the price is still going up, but the volatility is rather low. If the buyers continue generating sufficient demand, the price might reach 35500 today. But if the bears counterattack, the price could drop to the Pivot Point.
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