Yesterday was a great bullish session for the American indices. All three of them finished the session above their R1 resistance levels. The S&P 500 and NASDAQ 100 even set their new all-time highs. Today, all three indices are slowly going down, though. From the data front, nonfarm payrolls and unemployment rate in July will be published. Anyway, let’s start the analysis, S&P 500 first:
Yesterday was a great bullish session. The S&P 500 rose strongly, tested the all-time high and finished the session high above the R1 resistance level. Today, the price is slowly going down, but the volatility is really low. If the buyers don’t generate some serious appetite, the price could drop below the Pivot Point. But if they do, the price might even rise above 4430.
NASDAQ 100 was even stronger yesterday. The price finished the session at the R2 resistance level and set the new all-time high. Today, it is going down a bit, though. If the buyers don’t generate some serious appetite soon, the price could drop below the S1 support level. But if they do, the price might rise above 15200.
Dow Jones Industrial Average
The DJIA index also rose strongly yesterday. The price finished the session above the R1 resistance level. Today, it is showing mixed sentiment and the volatility is rather low. If the buyers show their strength once again the price might rise above the R1 and 35000. But if the bears take control over the market, the price could drop below the Pivot Point and the EMA 200.