Yesterday, the American indices showed mixed sentiment. NASDAQ 100 was the weakest and Dow Jones Industrial Average was the strongest, but the prices have barely changed from the start of the session. During today’s Asian trading session all three of them went up a bit. From the data front, the markets will be focused on CPI and core CPI releases. Anyway, let’s start the analysis, S&P 500 first:
S&P 500
The S&P 500 showed mixed sentiment yesterday. In the afternoon the price dropped and tested the S1 support level, but the bulls managed to quickly come back near the Pivot Point and finished the session there. Today, the price is going up a bit. Right now it’s close to 3800. If the buyers continue generating sufficient demand, the price might test the R1 resistance level today. But if the bears counterattack, the price could drop to the EMA 200.
NASDAQ 100
NASDAQ 100 also showed mixed sentiment. The price dropped and tested the S1 support level in the afternoon too, but then it quickly rose to the EMA 200 and finished the session a little below it. Today, the price is slightly going up, but the volatility is pretty low. If the buyers continue generating sufficient demand, the price might not only reach the R1 resistance level, but also test 13000 today. But if the bears counterattack, the price could drop to the S1.
Dow Jones Industrial Average
The DJIA index showed mixed sentiment as well. In the afternoon the price tested the EMA 200, but then it managed to rise significantly above the Pivot Point and finished the day even a bit higher than where it started. During today’s Asian trading session the price reached the R1 resistance level, but then it started going down. Right now the price is close to the 31000. If the buyers generate some strong appetite once again, the price might even reach the R2 today. But if the bears take full control over the market, the price could drop to the EMA 200.
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