Yesterday, the American indices performed differently. The Dow Jones Industrial Average was the strongest, it rose a bit. NASDAQ 100 was the weakest, it slightly dropped. Today, all three of them are strongly rising, though. From the data front, the Fed’s Monetary Policy Meeting Minutes and initial jobless claims in the US will be the key reports today. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
The S&P 500 showed mixed sentiment yesterday. First it rose above the R2 resistance level. Then, in the afternoon, it dropped below the S2 support level and the EMA 200. After that it went up a bit once more. Today the price is rising strongly, though. If the buyers continue generating firm demand, the price might even reach 3930 today. But if the bears counterattack, the price could drop to the EMA 200.
NASDAQ 100
NASDAQ 100 was a bit weaker yesterday. The price also went up first, above the R1 resistance level. Then, in the afternoon, it dropped below the S2 support level and the EMA 200. After that it went up slightly once more. Today the price is rising strongly, though. If the buyers continue generating firm demand, the price might even reach 13800 today. But if the bears counterattack, the price could drop below the EMA 200.
Dow Jones Industrial Average
The DJIA index was the strongest one yesterday. The price also went up first, above the R1 resistance level. Then, in the afternoon, it dropped below the S1 support level and tested the EMA 200. After that it went up significantly once more and finished the day close to the R1. Today the price is still rising strongly. If the buyers continue generating firm demand, the price might reach 31500. But if the bears counterattack, the price could drop to the EMA 200.
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