Yesterday, the American indices rose significantly. Today, they are going up even more. From the data front, the CB consumer confidence index in May and new home sales in April will be published. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
The S&P 500 rose significantly yesterday. The price finished the session at the R2 resistance level, a little below 4200. Today, it is going up even more. If the buyers continue generating sufficient demand, the price might reach today’s R1. But if the bears counterattack, the price could drop to the Pivot Point.
NASDAQ 100
NASDAQ 100 also was really strong yesterday. The price finished the session above the R2 resistance level. Today, it is rising even more. The price is already above 13700. If the buyers continue generating firm demand, the price might reach today’s R1. But if the bears counterattack, the price could drop to the Pivot Point.
Dow Jones Industrial Average
The DJIA index rose significantly yesterday as well. The price finished the session above the R1 resistance level. Today it is still going up a bit. If the buyers continue generating sufficient demand, the price might reach today’s R1. But if the bears counterattack, the price could drop below the Pivot Point.
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