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Dow, NASDAQ, and S&P 500 trade higher on Monday following strong earnings reports from technology giants such as Apple and Amazon.
During the last session of the week, the American indices dropped. All three of them finished Friday's session significantly below the Pivot Point. However, after the weekend they opened a bit higher after the weekend, and they have been rising strongly since then. From the data front, the manufacturing PMI index will be published in the US. Anyway, let's start the analysis, S&P 500 first:
S&P 500
The S&P 500 dropped significantly on Friday. It finished the last session of the week a little above the S1 support level. However, the price opened significantly higher on Monday and it has been still rising since then. Right now it is attacking the R1 resistance level. If the buyers do it successfully, the price might rise above 4,200 today. But if they fail, the price could fall to the EMA 200.
NASDAQ 100
NASDAQ 100 also dropped significantly on Friday. It finished the last session of the week a bit above the S1 support level. However, the price opened significantly higher on Monday and it has been still rising since then. It's already above 13,900. If the buyers continue generating firm demand, the price might rise above the R1 resistance level. But if the bears counterattack, the price could fall below the Pivot Point.
Dow Jones Industrial Average
The DJIA index dropped significantly on Friday as well. It finished the last session of the week a bit above the S1 support level. However, the price opened significantly higher on Monday and it has been rising strongly since then. The price is already above the R1 resistance level. If the buyers continue generating firm demand, the price might even rise above 34,000 today. But if the bears counterattack, the price could fall to the EMA 200.
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