Yesterday, the American indices rose significantly once more. S&P 500 and NASDAQ 100 finished the session above their R2 resistance levels and Dow Jones Industrial Average rose above the R1. Today, they are also showing increased volatility. During the first hours of the Asian trading session all three of them rose strongly, but then they started falling. This morning only the DJIA index is going up. From the data front, PPI and core PPI in March will be published today. Anyway, let’s start the analysis, S&P 500 first:

S&P 500

Yesterday was a great bullish session or the S&P 500. The price finished the day above the R2 resistance level and set the new all-time high. During the first hours of today’s Asian trading session it was still rising, the price even went above 4100. Then, it started falling. Right now the bulls are trying to defend the Pivot Point. If they do it successfully, the price might bounce and return above 4100. But if they fail, the price could drop to the S1 support level.

SP 500 - 09.04.2021

NASDAQ 100

NASDAQ 100 also rose strongly yesterday. The price rose above the R2 resistance level. During the first hours of today’s Asian trading session it was still rising significantly, but then it started falling. Right now the bulls are trying to defend the Pivot Point. If they do it successfully, the price might bounce and reach the R1. But if they fail, the price could drop below the S1 support level.

NASDAQ 100 - 09.04.2021

Dow Jones Industrial Average

The DJIA index showed very high volatility yesterday. First the price dropped and tested the S1 support level, then it rose strongly and finished the session above the R1 resistance level. During the first hours of today’s Asian trading session it was still rising but then it started falling. However, after reaching the Pivot Point in the morning, the price started going up once again. If the buyers continue generating sufficient demand, the price might even rise above 33500 and set the new all-time high. But if the bears counterattack, the price could drop to the S1 and the EMA 200.

Dow Jones Industrial Average - 09.04.2021