Yesterday, the American indices once again performed differently. Both S&P 500 and NASDAQ 100 rose significantly and set their new all-time highs, the latter one even finished the session above the R1 resistance level. On the other hand, the Dow Jones Industrial Average showed mixed sentiment. Today, all three of them are showing mixed sentiment. From the data front, the ADP nonfarm employment change in June and pending home sales in May will be published. Anyway, let’s start the analysis, S&P 500 first:
Yesterday was another good bullish session for the S&P 500. The price rose significantly and set the new all-time high. It even reached 4290 for the first time ever. Today, the price is showing mixed sentiment. If the buyers show their strength once again, the price might even reach 4300 today. But if the bears take control over the market, the price could drop below the Pivot Point.
NASDAQ 100 was even stronger yesterday. The price set the new all-time high and finished the session above the R1 resistance level. Today, it is showing mixed sentiment, though. If the buyers show their strength once again, the price might beat 14600 and stay above that level for a while. But if the bears take control over the market, the price could drop to the Pivot Point.
Dow Jones Industrial Average
The DJIA index showed mixed sentiment yesterday. The bulls weren’t strong enough to stay above the Pivot Point, so the price dropped below that level in the afternoon. Today, it is still showing mixed sentiment. If the buyers take control over the market, the price might even reach the R1 resistance level today. But if the bears show their strength, the price could fall below the EMA 200.