The last session of the month wasn’t the most profitable one for the American indices. All three of them dropped significantly and finished the day very close to their S1 support levels. Furthermore, after the weekend they opened much lower. However, they are strongly going up since then. From the data front, the markets will be closely watching the release of the manufacturing PMI in the US. Anyway, let’s move on to the analysis, S&P 500 first:

S&P 500

The last session of the month wasn’t the best one for the S&P 500. The price dropped significantly and finished the day on the S1 support level. What’s more, after the weekend it opened 35 pips lower, on today’s S1. However, it has been strongly rising since then, and right now the price is above the Pivot Point. If the buyers continue generating firm demand, the price might rise above the R1 resistance level and test the EMA 200. But if the bears counterattack, the price could drop below 3700.

SP 500 - 01.02.2021

NASDAQ 100

During the last session of the month, NASDAQ 100 looked almost the same as the S&P 500. The price dropped significantly and finished the day on the S1 support level. Moreover, after the weekend it opened 140 pips lower, on today’s S1. However, it has been strongly rising since then, and right now the price is above the Pivot Point and 13000. If the buyers continue generating firm demand, the price might rise above the R1 resistance level and the EMA 200. But if the bears counterattack, the price could return below the Pivot Point.

NASDAQ 100 - 01.02.2021

Dow Jones Industrial Average

During the last session of the month, the DJIA index performed very similarly to the other two American indices. The price dropped significantly and finished the day below the S1 support level. Furthermore, after the weekend it opened 250 pips lower. However, it has been strongly rising since then, and right now the price is slightly above the Pivot Point and 30000. If the buyers continue generating firm demand, the price might rise above the R1 resistance level and test the EMA 200. But if the bears counterattack, the price could return below the Pivot Point.

Dow Jones Industrial Average - 01.02.2021