On Friday, the American indices performed differently. S&P 500 went down a little, NASDAQ 100 showed mixed sentiment and Dow Jones Industrial Average dropped heavily. After the weekend NASDAQ 100 and S&P 500 are rising, but the Dow Jones industrial average is still going down. From the data front existing home sales in February will be published today. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500 dropped a bit on Friday and finished the week below 3900. After the weekend it opened 6 pips lower, but the price has been rising slowly since then. Right now the bulls are attacking the Pivot Point. If they do it successfully, they might continue going up and even reach the EMA 200 today. But if they fail, the price could drop to the S1 support level.
NASDAQ 100 showed mixed sentiment on Friday and the volatility was rather low. Today, the price is rising, though. Right now the bulls are attacking the R1 resistance level. If they do it successfully, the price might even rise above 13000 today. But if they fail, the price could drop to the Pivot Point.
Dow Jones Industrial Average
The DJIA index was definitely the weakest one on Friday. The price dropped heavily and finished the session slightly above the S2 support level. After the weekend it opened even lower and it’s still going down since then. If the bulls don’t generate some serious appetite soon, the price could fall below the S1. But if they do, the price might rise above the Pivot Point.