Yesterday, the American indices performed differently. The Dow Jones Industrial Average was the strongest one and finished the day above the R2 resistance level. The S&P 500 also rose significantly, but the NASDAQ 100 showed mixed sentiment and finished the session at the Pivot Point. Today, the S&P 500 and NASDAQ 100 are showing mixed sentiment, but the DJIA index is still rising. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
The S&P 500 rose significantly yesterday. The price finished the session above the R1 resistance level and 4200. Today, it is showing mixed sentiment, though. If the buyers show their strength once again, the price might rise above 4225 today. But if the bears take control over the market, the price could drop below the Pivot Point.
NASDAQ 100
NASDAQ 100 was significantly weaker yesterday. The price showed mixed sentiment and finished the day at the Pivot Point. Today, it is still showing mixed sentiment. If the buyers finally take control over the market, the price might rise above the R1 resistance level today. But if the bears show their strength, the price could drop below the S1 support level and the EMA 200.
Dow Jones Industrial Average
The DJIA index was definitely the strongest one yesterday. The price finished the session above the R2 resistance level and 34500. Today it is rising even more. If the buyers continue generating firm demand, the price might reach 34750 today. But if the bears counterattack, the price could drop to the Pivot Point.
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