The Rally Seems Unbreakable, When Will The Bull Stops?

After a 2-day rally, the Index started to show some turmoil. Will Bullish investors close the week in triumph?

The American indices are strongly going up for the second time in a row, without any real breaks. However, during the Asian trading session we didn't get any increased volatility, so will the bears stop the buyers today? Let’s try to find an answer to this question below, S&P 500 first:

S&P 500 

During the last hour of yesterday's session, the S&P 500 managed to breach the R1 resistance level. Today’s R1 was also tested during the Asian trading session, but the buyers failed to beat it. However, it seems that they will try one more time pretty soon. Probably their goal is to finish the week above it. Although, if they fail once again, the price might go down to the Pivot Point or even the S1 support level.

NASDAQ 100

NASDAQ 100 was also really strong but didn't manage to beat yesterday's R1 resistance level. However, it already tested today's R1 during the Asian trading session, but like the S&P 500, the buyers failed. They will probably attack it once again soon because they seem to be planning to finish the week above it. Although, if they fail one more time, the price might go down to the Pivot Point or even the S1 support level.

Dow Jones Industrial Average 

The DJIA index also tested the R1 resistance level yesterday but it failed and it seems to be a bit weaker today. It still hasn't reached today's R1, so we might expect that the bulls will attack it pretty soon. However, if they fail, the price might not only go down to the Pivot Point and S1 support level, but it could test the EMA 200 as well.

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