On Friday, the American indices performed differently. The S&P 500 and the NASDAQ 100 showed mixed sentiment, but the Dow Jones Industrial Average dropped significantly. However, all three of them opened significantly higher after the weekend and have been still rising since then. From the data front, manufacturing PMI in July will be published. Anyway, let’s start the analysis, S&P 500 first:
S&P 500
The S&P 500 showed mixed sentiment on Friday. First the price dropped below the S1 support level, then it rose above the Pivot Point and in the evening it went down a bit once again. In consequence, it finished the last session of the month a little above the EMA 200. However, the price opened 10 pips higher after the weekend and still has been rising since then. If the buyers continue generating firm demand, the price might rise above the R2 resistance level and set the new all-time high. But if the bears counterattack, the price could fall below the R1.
NASDAQ 100
NASDAQ 100 also showed mixed sentiment on Friday. First the price dropped below the S1 support level, then it rose significantly and finished the last session of the month slightly above the EMA 200, but a little below the Pivot Point. After the weekend it opened almost 30 pips higher and still has been rising since then. If the buyers continue generating firm demand, the price might rise above the R2 resistance level. But if the bears counterattack, the price could fall to the EMA 200.
Dow Jones Industrial Average
The DJIA index was definitely the weakest one on Friday. The price dropped deeply and finished the last session of the month a little above the S1 support level. However, the price opened 70 pips higher after the weekend and still has been rising significantly since then. If the buyers continue generating firm demand, the price might set the new all-time high soon and rise above 35100. But if the bears counterattack, the price could fall below the R1.
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