Various reactions emerged after Jerome Powell speech. US markets indices showing upwards and downwards movement.

Yesterday's speech by Fed Chairman Jerome Powell caused some increased volatility in equity markets, both upwards and downwards, which was interesting. In consequence, all three American indices managed to set their new highs. What's more, two of them went even higher during the Asian trading session last night. So, what can we expect next? Let's see below.

jerome powell us indices

 

S&P 500

During the Asian trading session, the S&P 500 finally crossed the 3500 psychological barriers. However, it didn't manage to hold above the R1 resistance level this morning. Now it seems that the price is going to attack it one more time. Only falling below the Pivot Point could raise concerns about the bullish bias today.

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NASDAQ 100

NASDAQ 100 seems to be relatively weaker than the S&P 500 today. After setting the new all-time high, it fell lower than the others yesterday afternoon, and in consequence, the price didn't manage to go higher during the Asian trading session. Now, the bulls are trying to defend the Pivot Point. If they do it successfully, we can expect the test of the R1 resistance level, which is also where the price peaked yesterday. However, if they fail, the price might go down to the S1 support level, which is also the place where yesterday's low was, or even test the EMA 200.

nasdaq 100

 

Dow Jones Industrial Average

The DJIA index acts similarly to the S&P 500 today. After going very high during the Asian trading session, it didn't manage to hold above the R1 resistance level this morning. Now it seems that the price is attempting to beat it once more. In this case also, only falling below the Pivot Point would flip the daily chart bearish today, but for now, the bullish bias seems to be pretty safe.

djia stocks indices

 

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