Yesterday the American indices rose strongly one more time. All three of them finished the session above their R1 resistance levels. Today, NASDAQ 100 is still going up significantly and the other two are also rising, but very slowly, with low volatility. From the data front, ADP nonfarm employment change will be published today. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
Yesterday was another great bullish session for the S&P 500. The price rose strongly and finished the day significantly above the R1 resistance level. Today, the price is also going up, but very slowly. If the buyers continue generating sufficient demand, the price might attack and hold above 3850 today. But if the bears counterattack, the price could fall to the EMA 200.
NASDAQ 100
NASDAQ 100 also went up strongly and finished the session significantly above the R1 resistance level yesterday. Today the price is rising even more. It is getting close to today’s R1 right now. If the buyers continue generating firm demand, the price might attack and hold above 13600 today. But if the bears counterattack, the price could fall to the Pivot Point.
Dow Jones Industrial Average
Yesterday was a great bullish session for the DJIA index as well. The price rose strongly and finished the day slightly below the R2 resistance level. Today, the price is also going up, but at a very slow pace. If the buyers continue generating sufficient demand, the price might test the R1. But if the bears counterattack, the price could fall to the EMA 200.
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