Yesterday, the American indices performed differently. The S&P 500 and the Dow Jones Industrial Average dropped a bit and the NASDAQ 100 showed mixed sentiment. All three of them managed to set their new all-time highs, though. Today, the indices are showing mixed sentiment. From the data front, the PPI index in June will be published. Anyway, let’s start the analysis, S&P 500 first:
The S&P 500 dropped a bit yesterday. First, it managed to rise above 4380 and set the new all-time high, but in the late afternoon the price went down and finished the session below the Pivot Point. Today, it is showing mixed sentiment. If the buyers show their strength, the price might rise above the R1 resistance level. But if the bears take control over the market, the price could even fall to the S2 support level.
NASDAQ 100 showed mixed sentiment yesterday. First, the price rose above the R2 resistance level and set the new all-time high. Then, in the late afternoon, it dropped and finished the session a little above the Pivot Point. Today, the price is rising a bit, though. Right now the bulls are attacking the Pivot Point. If they do it successfully, the price might rise to the R1 today. But if they fail, the price could fall below the EMA 200.
Dow Jones Industrial Average
The DJIA index dropped a bit yesterday. It finished the session at the Pivot Point. Today, the price is showing mixed sentiment. If the buyers take control over the market, the price might reach the R1 resistance level today. But if the bears show their strength, the price could even fall below the S2 support level.