Yesterday, the American indices once again performed differently. S&P 500 dropped a bit, NASDAQ 100 went down significantly, and the Dow Jones Industrial Average rose strongly and set the new all-time high. Today, all three indices are slowly rising. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
The S&P 500 dropped a bit yesterday. The price finished the session slightly above the EMA 200. Today, the price is rising, though. If the buyers continue generating firm demand, the price might even reach 3900. But if the bears counterattack, the price could drop below the EMA 200.
NASDAQ 100 was even weaker yesterday. The bulls attacked the EMA 200 twice, but they failed. Then the price dropped significantly and in consequence it finished the session below the S1 support level. Today, the price is rising, 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 12300.
Dow Jones Industrial Average
The DJIA index was much stronger than the other two yesterday. The price rose significantly and finished the day above the R1 resistance level. Moreover, in the afternoon it set the new all-time high. Today, the price is rising, but only a little and the volatility is very low. If the bulls take full control over the market, the price will rise and hold above 32000, probably even set a new all-time high. But if the bears show their strength, the price could drop below the Pivot Point.