Yesterday, the American indices performed differently. S&P 500 and Dow Jones Industrial Average dropped deeply, but the NASDAQ 100 managed to defend the Pivot Point and finished the session above it. This morning all three of them started rising. From the data front, there will be many important publications in the US, such as manufacturing PMI, services PMI and markit composite PMI in March, and durable goods orders in February. Anyway, let’s start the analysis, S&P 500 first:
S&P 500
The S&P 500 dropped significantly yesterday. The price finished the session slightly above the S1 support level. During today’s Asian trading session it showed mixed sentiment, but this morning the price started rising. Right now the bulls are attacking the Pivot Point. If they do it successfully, the price might even rise to the R1 resistance level today. But if they fail, the price could go down to the S1.
NASDAQ 100
NASDAQ 100 showed mixed sentiment yesterday. The bears attacked the Pivot Point twice, but the bulls were strong enough to defend it. In the end the price finished the day above 13000. During today’s Asian trading session it showed mixed sentiment, but this morning the price started rising strongly. Right now the index is getting close to the R1 resistance level. If the buyers continue generating firm demand, the price might rise above 13200 today. But if the bears counterattack, the price could fall to the EMA 200.
Dow Jones Industrial Average
The DJIA index was definitely the weakest one yesterday. The price dropped deeply and finished the day significantly below the S1 support level. During today’s Asian trading session it showed mixed sentiment, but this morning the price started rising. Right now the index is getting close to the Pivot Point. If the buyers continue generating sufficient demand, the price might even reach the R1 resistance level today. But if the bears counterattack, the price could fall to 32000.
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