Yesterday, the American indices performed differently. The NASDAQ 100 was the strongest one, it finished the session at the R3 resistance level, above 14500. The S&P 500 also rose significantly and set the new all-time high. On the other hand, the Dow Jones Industrial Average dropped heavily and finished the day a little above the S1 support level. Today, the NASDAQ 100 is going down, but the S&P 500 and the DJIA index are showing mixed sentiment. From the data front, the CB consumer confidence in June will be published. Anyway, let’s start the analysis, S&P 500 first:
Yesterday was a good bullish session for the S&P 500. The price finished the day at the R1 resistance level and set the new all-time high. During the first hours of today’s Asian trading session, the price dropped, but then it started rising. Right now it is near 4280. If the buyers continue generating sufficient demand, the price might rise above 4290 or even reach 4300 today. But if the bears counterattack, the price could fall to the S1 support level.
NASDAQ 100 was definitely the strongest one yesterday. The price set the new all-time high, it rose to the R3 resistance level and 14500. However, the price is going down a bit today. If the buyers don’t generate some serious appetite soon, the price could drop below the Pivot Point today. But if they do, the price might return above 14500 and set another new all time-high.
Dow Jones Industrial Average
The DJIA index was much weaker yesterday. The price dropped significantly, and finished the session a little above the S1 support level. Moreover, during the first hours of today’s Asian trading session, the price dropped, but then it started rising. Right now, the bulls are getting close to the Pivot Point. If they beat that level, the price might even rise to the R1 resistance level today. But if they fail, the price could fall below the EMA 200.