The positive mood continues to envelop the stock market. All three US indices extend their advances today. If buyers' support remains strong, prices will rise above R1.

Yesterday the American indices rose significantly. Today all three of them are going up even more. What can they do next? Let's try to answer that question in an analysis. S&P 500 first:

 

S&P 500

The S&P 500 rose significantly yesterday. The price finished the session above the R1 resistance level, slightly above 3,960. Today it is going up even more. If the buyers continue generating firm demand, the price might rise above today's R1 and even reach 4,000. But if the bears counterattack, the price could drop below 3,955 and reach Pivot Point.

spx

 

NASDAQ 100

NASDAQ 100 also rose significantly yesterday. The price finished the session above the R1 resistance level, at 11,640. Today it is going up even more. If the buyers continue generating firm demand, the price might rise above today's R1 and even reach 11,800. But if the bears counterattack, the price could drop to 11,600.

nasdaq

 

Dow Jones Industrial Average

The DJIA index rose significantly yesterday as well. The price finished the session exactly at the R1 resistance level, slightly below 33,800. Today it is going up even more. If the buyers continue generating firm demand, the price might reach today's R1 and 34,000. But if the bears counterattack, the price could drop below the Pivot Point and reach 33,700.

djia

 

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