Stocks Climb After Fed Reaffirmed Stance on Policy

Dow, S&P 500, and NASDAQ are trading strongly above EMA 200 today, following the Fed's commentary to maintain its current support for the economy in the latest meeting minutes.

Yesterday, the American indices managed to rise a bit. The volatility wasn't really high, though. However, all three of them are rising strongly today. From the data front, weekly initial jobless claims will be published in the US. Anyway, let's move on to the analysis, S&P 500 first:

S&P 500

The S&P 500 managed to go up a bit yesterday, but the volatility was really low. However, the price is rising strongly today. It has already set the new all-time high and reached the R2 resistance level. If the buyers continue generating firm demand, the price might reach 4,100 today. But if the bears counterattack, the price could drop to the Pivot Point.

NASDAQ 100

NASDAQ 100 also went up a bit yesterday, but the volatility was rather low. The price is rising strongly today, though. It has already reached the R2 resistance level this morning. If the buyers continue generating firm demand, the price might reach 13,800 today. But if the bears counterattack, the price could drop to the Pivot Point.

Dow Jones Industrial Average

The DJIA index slightly went up yesterday as well. The volatility was really low, though. During today's Asian trading session, the price rose significantly, but this morning it started falling. If the buyers don't generate some strong appetite soon, the price could drop to the EMA 200. But if they do, the price might rise above the R1 resistance level.

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