Yesterday, the American indices showed mixed sentiment and the volatility was rather low. The Dow Jones Industrial Average was slightly weaker than the other two indices, though. Today, all three of them are rising very slowly. From the data front, all eyes will be focused on the Fed Minutes from the last policy meeting. It is believed that the US Central Bank discounts the rise of Treasury market yields, which may fuel further bonds sell-off. Anyway, let’s start the analysis, S&P 500 first:
The S&P 500 showed mixed sentiment yesterday and the volatility was rather low. However, the price still managed to set the new all-time high. Today, still nothing really happens. If the buyers take control over the market, the price might rise above the R1 resistance level and reach 4080. But if the bears show its strength, the price could drop below the S2 support level.
NASDAQ 100 also showed mixed sentiment yesterday. The price didn’t change at all. Today, during the Asian trading session, the price dropped below the Pivot Point, but this morning it managed to rise and returned above that level. If the buyers continue generating the appetite, the price might rise above the R1 resistance level. But if the bears counterattack, the price could fall to the S2 support level.
Dow Jones Industrial Average
The DJIA index was the weakest one yesterday. The price dropped a bit, but still finished the day above 33300. Today, it is rising slowly, though. If the buyers continue generating the appetite, the price might rise above the R1 resistance level. But if the bears counterattack, the price could fall to the EMA 200.