It was a good start of the week for the American indices. All three of them went up significantly. Today, they are rising even more, but at a slower pace. From the data front, retail sales and core retail sales in February will be published. Anyway, let’s move on to the analysis, S&P 500 first:
That was a great, bullish session for the S&P 500. The price finished the day a little below the R2 resistance level and set the new all-time high. Today, it is rising a little more, but the volatility is rather low. If the buyers continue generating sufficient demand, the price might even finally test 4000 psychological level. But if the bears counterattack, the price could drop below the Pivot Point.
NASDAQ 100 also significantly went up yesterday. The price finished the day a little below the R1 resistance level. During today’s Asian trading session it rose even more and this morning the bulls tested the R1, but after that they started going down. If the buyers generate some strong appetite once again, the price might rise above 13200. But if the bears take full control over the market, the price could drop to the Pivot Point.
Dow Jones Industrial Average
The DJIA index rose a bit yesterday as well. The price finished the day above the R1 resistance level and set the new all-time high. Today, nothing has really happened yet, the volatility is really low. If the bulls show their strength once again, the price might rise above 33000. But if the bears take control over the market, the price could drop to the S1 support level.