Yesterday, the American indices went down. However, only NASDAQ 100 dropped significantly and finished the day below the S1 support level. The other two indices fell a little. Today, all three of them are going up, though. From the data front, the February services PMI, markit composite PMI, and ISM Non-Manufacturing PMI will be published in the US. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
The S&P 500 dropped a bit yesterday. The volatility was low and the price finished the day at the EMA 200, though. Today, it is strongly going up. It’s attacking the R1 resistance level right now. If the buyers continue generating firm demand, the price might rise above the R2 today. But if the bears counterattack, the price could fall to the EMA 200.
NASDAQ 100
NASDAQ 100 was much weaker yesterday. The price dropped significantly and finished the day at the S1 support level. Today, it is strongly going up, though. If the buyers continue generating firm demand, the price might rise above the R1 resistance level today. But if the bears counterattack, the price could fall below 13000.
Dow Jones Industrial Average
The DJIA index slightly went down yesterday. The volatility was low and the price finished the day at the Pivot Point, though. Today, it is strongly going up. It’s attacking the R1 resistance level right now. If the buyers continue generating firm demand, the price might rise above the R2 today. But if the bears counterattack, the price could fall to the EMA 200.
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