On Friday, the American indices rose significantly once again and set their new all-time highs. However, after the weekend they opened much lower. Now they are acting differently. The S&P 500 and NASDAQ 100 are rising, but the Dow Jones Industrial Average is going down. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
On Friday, the S&P 500 rose strongly and set the new all-time high. The price finished the day a little below the R1 resistance level. After the weekend, it opened much lower, though. Right now the bulls are trying to attack the Pivot Point. If they do it successfully, the price should continue generating sufficient demand and it might even reach 4200. But if the bears show their strength, the price could drop below the S1 support level.
NASDAQ 100 went up a bit on Friday. The price set the new all-time high and finished the week above 14000. However, it opened much lower after the weekend. It has been rising since then, though. If the buyers continue generating firm demand, the price might reach 14100 today. But if the bears counterattack, the price could drop to the S1 support level.
Dow Jones Industrial Average
The DJIA index also rose strongly on Friday. The price set the new all-time high and finished the day above the R1 resistance level and 34000. After the weekend, it opened much lower though, and it has been going down since then. If the buyers don’t generate some serious appetite soon, the price could drop below the S1 support level. But if they do, the price should return above the Pivot Point.