Yesterday, the American indices performed differently. The S&P 500 and the NASDAQ 100 showed mixed sentiment and the volatility was rather low. On the other hand, the Dow Jones Industrial Average was much stronger and set the new all-time high. Today, NASDAQ 100 is going down, S&P 500 is showing mixed sentiment and the DJIA index is still rising. From the data front, the CB consumer confidence report will be published. Anyway, let’s move on to the analysis, S&P 500 first:
The S&P 500 showed mixed sentiment yesterday. The volatility was rather low and the price finished the session at the same level that it closed the last week. Today, it is still showing mixed sentiment and the volatility is really low. If the bulls finally attack, the price might set the new all-time high. But if the bears show their strength this time, the price could drop to the EMA 200.
NASDAQ 100 also showed mixed sentiment yesterday. The volatility was rather low and the price finished the session at the same level that it closed the last week. Today, it is going down significantly, though. Right now the bears are getting close to the S1 support level. If the buyers don’t generate some serious appetite there, the price could even fall to the S2 today. But if they do, the price might reach the R1 resistance level.
Dow Jones Industrial Average
The DJIA index rose significantly yesterday. The price finished the session slightly below the R1 resistance level and set the new all-time high. Moreover, it is still going up today. If the buyers continue generating firm demand, the price might rise above 33200. But if the bears counterattack, the price could drop below the Pivot Point.