Yesterday the American indices showed mixed sentiment. However, all three of them are rising significantly today. From the data front, the ADP nonfarm employment change and ISM manufacturing PMI (both in August) will be published. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
The S&P showed mixed sentiment yesterday. During the Asian trading session the price rose, set the new all-time high and got very close to the R1 resistance level. Then it dropped and finished the session slightly above the Pivot Point. Today, the price is rising significantly, though. If the buyers continue generating firm demand, the price might rise above today’s R1, set the new all-time high and even reach 4550. But if the bears counterattack, the price could fall to the Pivot Point.
NASDAQ 100
NASDAQ 100 also showed mixed sentiment yesterday. During the Asian trading session the price rose, set the new all-time high and tested the R1 resistance level. Then it dropped and finished the session at 15600. Today, the price is rising again, though. If the buyers continue generating firm demand, the price might rise above today’s R1 and set the new all-time high. But if the bears counterattack, the price could fall below the Pivot Point.
Dow Jones Industrial Average
The DJIA index showed mixed sentiment as well. During the Asian trading session the price rose above the R1 resistance level. Then it dropped and finished the session at the Pivot Point. Today, the price is rising significantly, though. If the buyers continue generating firm demand, the price might rise above today’s R1, and even set the new all-time high. But if the bears counterattack, the price could fall to the Pivot Point.
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