Yesterday the American indices performed differently. All of them went up, but the Dow Jones Industrial Average only rose a little, S&P 500 went up a bit higher, but the NASDAQ 100 was definitely the strongest one. Today, the NASDAQ 100 is still rising, but the other two are showing mixed sentiment. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
The S&P 500 significantly went up yesterday. It finished the day above the R2 resistance level. Today the price opened even higher, but it has been showing mixed sentiment since then. The price is still very close to 3800. If the buyers manage to take control over the market, the price might even reach the R2 today. But if it appears that the bears have more power, the price could fall to the S1 support level.
Yesterday was a great bullish session for the NASDAQ 100. The price went up strongly and finished the day above the R3 resistance level. And today it is rising even more. If the buyers continue generating firm demand, the price might even test 13100 today. But if the bears counterattack, the price could fall below 13000.
Dow Jones Industrial Average
The DJIA index was much weaker than the other two. It also went up, but only a little and finished the day on the EMA 200, slightly below the R2 resistance level. Today, the price opened significantly higher, but then it dropped a bit and right now it is still very close to the EMA 200 and the Pivot Point. If the buyers manage to take control over the market, the price might reach the R1 today. But if it appears that the bears have more power, the price could easily fall to the S1 support level.