Yesterday was a good session for the American indices. All three of them went up significantly. NASDAQ 100 was the strongest one. However, they are slowly falling today. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
Yesterday was a strong bullish session for the S&P 500. It rose significantly and finished the day above the R1 resistance level and the EMA 200. Today, the price is going down, though. It’s already below the Pivot Point. If the buyers don’t generate some serious appetite soon, the price could drop below 3900 and even reach the S1 support level. But if they do, the price might even reach the R1.
NASDAQ 100 was definitely the strongest one yesterday. The price rose strongly and finished the day significantly above the R2 resistance level. On the other hand, it is falling today. However, the bulls successfully defended the Pivot Point this morning. Now, if they generate some strong appetite, the price might even reach the R1. But if they don’t, the bears may counterattack once again and the price could even drop to the S1 support level.
Dow Jones Industrial Average
The DJIA index also went up yesterday, but it wasn’t as strong as the other two. The price finished the day a little below the EMA 200, the bulls weren’t strong enough to beat it. Today, the price is falling significantly. It’s already below the Pivot Point. If the buyers don’t generate some serious appetite soon, the price could drop below the S1 support level today. But if they do, the price might finally rise above the EMA 200.