Yesterday the American indices performed differently. The Dow Jones Industrial Average showed mixed sentiment, but the NASDAQ 100 and the S&P 500 rose a bit. Today, all three of them are going up, though. From the data front, the GDP in Q2 will be published. Anyway, let’s start the analysis, S&P 500 first:
The S&P 500 managed to rise a bit yesterday. The price finished the session above the Pivot Point and 4390. Today, the price is still going up. Right now the bulls are attacking 4400. If they do it successfully, the price might rise above the R1 resistance level today. But if they fail, the price could drop to the EMA 200.
NASDAQ 100 also rose a bit yesterday. The price returned above the EMA 200 and finished the session close to 14900. Today, the price is still going up slowly. 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 drop below the EMA 200 and the Pivot Point.
Dow Jones Industrial Average
The DJIA index showed mixed sentiment yesterday. The bulls tested the R1 resistance level twice, but they weren’t strong enough to beat that level. In the evening, the bears tried to hold the price below the EMA 200, but they also failed. In the end, the price finished the session a little below the Pivot Point. Today it is rising significantly, though. If the buyers continue generating firm demand, the price might even reach the R1 resistance level and 35000 today. But if the bears counterattack, the price could fall to the EMA 200.