Yesterday, the American indices once again performed differently. S&P 500 rose significantly and set the new all-time high. NASDAQ 100 was even stronger, it finished the session above the R3 resistance level and 14100. However, the Dow Jones Industrial Average dropped. Today, all three of them are rising significantly. From the data front, the PPI index and retail sales in May will be published. Anyway, let’s start the analysis, S&P 500 first:
Yesterday was a really interesting session. First, the S&P 500 rose above the R1 resistance level and set the new all-time high. Then, it dropped to the S1 support level and the EMA 200. However, in the evening it rose even higher and finished the session above the R1 and 4250. Today, the price is rising even more. It has already set the new all-time high and risen above the R1. If the buyers continue generating firm demand, the price might reach 4275 today. But if the bears counterattack, the price could fall to the Pivot Point.
NASDAQ 100 was the strongest one yesterday. The price managed to rise above the R3 resistance level and 14100. Today, it is rising even more. If the buyers continue generating firm demand, the price might rise above the R1 today and reach 14200. But if the bears counterattack, the price could drop to the Pivot Point.
Dow Jones Industrial Average
The DJIA index was much weaker yesterday. The price dropped significantly and finished the session slightly above the S1 support level. However, it is rising today. Right now the bulls are attacking the EMA 200. If they do it successfully, the price might even reach the R1 resistance level. But if they fail, the price could fall below the Pivot Point.