Friday was a great bullish session for the American indices. All three of them rose strongly, S&P 500 and NASDAQ 100 even set their new all-time highs. Today, all three of them are going up slowly. From the data front, pending home sales in July will be published. Anyway, let’s start the analysis, S&P 500 first:
S&P 500
Friday was a great bullish session for the S&P 500. The price set the new all time high, rose above 4500 for the first time ever, and finished the session above the R2 resistance level. Today, it is still going up, but the volatility is rather low. If the buyers continue generating sufficient demand, the price might rise above 4520 today. But if the bears counterattack, the price could drop to the Pivot Point.
NASDAQ 100
NASDAQ 100 also rose strongly yesterday. The price set the new all-time high and finished the session above the R2 resistance level. Today, it is still going up, but the volatility is rather low. If the buyers continue generating sufficient demand, the price might even reach 15500. But if the bears counterattack, the price could drop to the Pivot Point.
Dow Jones Industrial Average
The DJIA index rose strongly yesterday as well. The price finished the session above the R1 resistance level. Today, it is still going up, but the volatility is rather low. If the buyers continue generating sufficient demand, the price might rise above 35500. But if the bears counterattack, the price could drop to the Pivot Point.
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