The last session of the week wasn’t the best one for the American indices. They dropped during the first half of the day and then managed to rise during the American trading session. However, all three of them finished the last session of the week below their Pivot Points. On the other hand, NASDAQ 100 and S&P 500 are strongly going up today, and the Dow Jones industrial Average is showing mixed sentiment. What can they do next? Let’s try to answer that question in an analysis:
S&P 500
Friday wasn’t the best day for the S&P 500. First the price dropped below the EMA 200, then it managed to rise a bit, but it finished the last session of the week below the S1 support level. However, after the weekend it opened a bit higher and it is still rising. Right now the price is slightly below the R1 resistance level and 3850. If the buyers continue generating firm demand, the price should beat and hold above those levels today. But if the bears counterattack, the price could even drop to the EMA 200.
NASDAQ 100
NASDAQ 100 also dropped a bit on Friday. First the price tested the S1 support level, then it managed to rise a bit, but it finished the last session of the week below the Pivot Point. However, after the weekend it opened a bit higher and it is rising strongly. Right now it has already set the new all-time high and it is above the R2 resistance level. If the buyers continue generating firm demand, the price might rise above 13500. But if the bears counterattack, the price could drop to the Pivot Point.
Dow Jones Industrial Average
The DJIA index fell deeply on Friday. The price finished the last session of the week below the S2 support level. However, after the weekend it opened a bit higher and went up even more during today’s Asian trading session. But this morning it started falling once more and it’s already below the EMA 200. If the buyers don’t generate some serious appetite pretty soon, the price could even drop to the S1. But if they do, the price might test the R1 resistance level today.
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