Yesterday was a fantastic bullish session for the American indices. All three of them finished the day above their R2 resistance levels. During today’s Asian trading session, the prices are showing mixed sentiment, though. From the data front, the market will be focused on some really important releases in the US: the Q3 GDP, initial jobless claims, durable goods orders and new home sales (all in October) will be published today. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
S&P 500 had a really great bullish session yesterday. The price was going up all day and finished the session high above the R2 resistance level. During the first hours of today’s Asian trading session, it rose even more, but then it started going down. If the bulls don’t start generating the appetite again, the price could fall to the Pivot Point. But if they do, the price might test the R1.
NASDAQ 100
NASDAQ 100 also performed a fantastic bullish rally yesterday. The price started going up strongly during the American trading session and it finished the day a little above the R2 resistance level. During the first hours of today’s Asian trading session, it also rose even more, but then it started going down. If the bulls don’t start generating the appetite again, the price could fall below the Pivot Point and test 12000. But if they do, the price might attack the R1 and 12200.
Dow Jones Industrial Average
The DJIA index was also really strong yesterday. The price was going up all day and finished the session significantly above the R2 resistance level. During the first hours of today’s Asian trading session, it rose even more as well, but then it started going down. If the bulls don’t start generating the appetite again, the price could fall to the Pivot Point. But if they do, the price might test the R1.
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