Yesterday, the American indices dropped heavily first, but in the evening they managed to rise a bit. NASDAQ 100 was the strongest one and the Dow Jones Industrial Average was the weakest. Today, the S&P 500 and the DJIA index are showing mixed sentiment, but the NASDAQ 100 is going up. From the data front, Philadelphia Fed Manufacturing Index in May and weekly initial jobless claims will be published. Anyway, let’s start the analysis, S&P 500 first:
S&P 500
Yesterday was a really interesting session. First, the S&P 500 dropped below the S2 support level. Then, in the afternoon, it managed to rise significantly and finished the day above 4100. Today, the price is showing mixed sentiment and the volatility is rather low. If the buyers show their strength, the price might even rise above the R1 resistance level. But if the bears take control over the market, the price could fall below 4100 and the Pivot Point.
NASDAQ 100
NASDAQ 100 was a bit stronger yesterday. First, it also dropped below the S2 support level. Then, in the afternoon, it managed to rise significantly and finished the day above 13200, higher than when it started the session. Moreover, the price is going up a bit today. It’s already above the EMA 200. If the buyers continue generating firm demand, the price might reach the R1 resistance level. But if the bears counterattack, the price could fall to the Pivot Point.
Dow Jones Industrial Average
First, the DJIA index dropped below the S2 support level as well. Then, in the afternoon, it managed to rise a bit and finished the session slightly above the S1. Today, the price is showing mixed sentiment and the volatility is rather low. If the buyers take control over the market, the price might even reach 34000 and the R1 resistance level. But if the bears show their strength, the price could fall to today’s S1.
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