Amidst Minimum Volatility, NASDAQ 100 Stands Strong

Today, the economic agenda that deserves to be watched is the PPI and the Core PPI. How is the current market condition? Check the analysis.

After the great bullish session on Monday, the American indices weren’t that interesting yesterday. The volatility wasn't increased and two of them dropped a bit, only NASDAQ 100 is still incredibly strong and didn’t show any weaknesses.

Today, during the Asian trading session, all three of them went upwards, though. From the data front, the markets will be focused on the PPI (Producer Price Index) and core PPI in the US, which will be published in the afternoon today. Anyway, let's start the analysis of the S&P 500 first

S&P 500

Yesterday, the S&P 500 didn't manage to defend the Pivot Point and finished the session a little below it. Today, it seems that the situation has changed.
The price is going up slowly and it is already above the Pivot Point. In the next few hours, the price should attack the R1 resistance level and maybe even test Monday’s highs.

However, if the bears take control over the market again, the price could not only fall below the Pivot Point but also test the S1 support level and the EMA 200.

NASDAQ 100

Yesterday, the NASDAQ 100 was still the strongest. It didn't fall like the others, because the 12050 was successfully defended. Today, the price is going up slowly, it's already above the Pivot Point and in the next few hours, it will probably attack the R1 resistance level.

Later today, the price should test yesterday's highs. However, if the bears are strong enough to counterattack, the price could drop below the Pivot Point and maybe even go down to the S1 support level.

Dow Jones Industrial Average

Once again, the DJIA index is without a doubt the weakest of all three. It fell significantly yesterday, however it seems to be going up at the same pace as the others today. It’s already above the Pivot Point and in the next few hours, it will probably attack the R1 resistance level.

Later today, if the buyers continue to generate firm demand, the price should test Monday’s highs. However, if the bears decide to counterattack, the price could not only drop below the Pivot Point but also test the EMA 200.

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