Yesterday the American indices rose significantly. All three of them finished the session near their R1 resistance levels. Today, the S&P 500 and NASDAQ 100 are still going up, but the Dow Jones Industrial Average is showing mixed sentiment. From the data front, services PMI, markit composite PMI, and ADP nonfarm employment change (all three in July) will be published. Anyway, let’s start the analysis, S&P 500 first:

S&P 500

Yesterday was a good bullish session for the S&P 500. The price rose significantly and finished the session at the R1 resistance level. Today it is going up even more. If the buyers continue generating firm demand, the price might rise above 4425 and set the new all-time high today. But if the bears counterattack, the price could drop to the EMA 200 and the Pivot Point.

NASDAQ 100

NASDAQ 100 also rose significantly yesterday. The price finished the session above the R1 resistance level and 15000. Today it is going up even more. If the buyers continue generating firm demand, the price might reach 15100. But if the bears counterattack, the price could drop to 15000.

Dow Jones Industrial Average

The DJIA index rose significantly yesterday as well. The price tested the R1 resistance level and 35000. In the end, it finished the session slightly below those levels. Today the price is showing mixed sentiment. If the buyers show their strength, the price might rise above 35000. But if the bears take control over the market, the price could drop below the EMA 200.