Yesterday, the American indices finally managed to rise. However, NASDAQ 100 went up only slightly, and the S&P 500 and Dow Jones Industrial Average were much stronger. Today the S&P 500 and NASDAQ 100 are falling slowly and the DJIA is showing mixed sentiment. The volatility is pretty low, though. From the data front, investors will be watching the release of such reports as durable goods orders, pending home sales in January and most importantly – the GDP in Q4, all in the US. Anyway, let’s start the analysis, S&P 500 first:
S&P 500
That was a great, bullish session for the S&P 500 yesterday. The price rose strongly in the afternoon and finished the day significantly above the R1 resistance level. Today, the price is slightly going down, but the volatility is pretty low. If the buyers generate some serious appetite in the next few hours, the price might even reach 3950. But if the bears show their strength once again, the price could drop below the Pivot Point and the EMA 200.
NASDAQ 100
NASDAQ 100 also went up yesterday, but only a little. The price rose in the afternoon and finished the day testing the EMA 200. During today’s Asian trading session it showed mixed sentiment, but this morning the price started falling. Right now it is getting close to the Pivot Point. If the buyers don’t generate some serious appetite there, the price could drop below the S1 support level today. But if they do, the price might rise to the R1 resistance level.
Dow Jones Industrial Average
The DJIA index was definitely the strongest one yesterday. The price rose strongly in the afternoon, set the new all-time high and finished the day above the R2 resistance level. Today the price is showing mixed sentiment and the volatility is really low. If the bulls show their strength once again, the price should successfully attack 32000 and hold above it for the rest of the day. But if the bears take control over the market, the price could fall to the Pivot Point.
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