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After showing mixed sentiment on Friday, the three US indices dropped. Nevertheless, they managed to go up. Today, they open much higher after the weekend. What can they do next?
The American indices showed mixed sentiment on Friday. All of them dropped, but then managed to go up. However, they open much higher after the weekend. After that, the volatility wasn't increased during the Asian trading session. What can they do next? Let's try to answer that question in an analysis, S&P 500 first:
S&P 500
S&P 500 showed mixed sentiment on Friday. At first it dropped below the S1 support level, then the price managed to rise. In consequence it finished the week a little below Friday's Pivot Point.
Today, after the weekend, the price opened much higher and it's attacking the R1 resistance level right now. If the bulls do it successfully, the price might even test the R2 today. But if they fail, the price could drop to the Pivot Point.
NASDAQ 100
NASDAQ 100 showed mixed sentiment on Friday as well. The price dropped to the S1 support level at first, then went up and finished the last session of the week above the Pivot Point.
Today, after the weekend, the price opened much higher and it has been trying to hold above the EMA 200 since then. If the bulls do it successfully, the price might even test the R2 resistance level today. But if they fail, the price could drop to the Pivot Point.
Dow Jones Industrial Average
The DJIA index also showed mixed sentiment on Friday. First, the price dropped deeply and tested the S2 support level. Then it rose strongly and finished the last session of the week above the Pivot Point and the EMA 200.
Today, after the weekend, the price opened above the R1 resistance level and it has been slowly going up since then. If the bulls continue generating firm demand, the price might reach the R2 pretty soon. But if they don't, the price could go down to the EMA 200.
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