US stocks are on a bullish track as markets await Jerome Powell's speech. SPX is already above R1, while Nasdaq and DJIA are still climbing up.

Yesterday the S&P 500 and the NASDAQ 100 went down. On the other hand, the Dow Jones Industrial Average showed mixed sentiment. However, all three American indices are rising today. What can they do next? Let’s try to answer that question in an analysis. S&P 500 first:

 

S&P 500

The S&P 500 went down yesterday. The price finished the session exactly at 4,000 and the EMA 200. However, it is rising strongly today. The price is already above the R1 resistance level and 4,040. If the buyers continue generating firm demand, the price might reach 4,060 today. But if the bears counterattack, the price could drop below 4,020.

SPX today

 

NASDAQ 100

NASDAQ 100 also went down yesterday. The price finished the session at the Pivot Point, was slightly above 12,230. However, it is rising strongly today. If the buyers continue generating firm demand, the price might go up above the R1 resistance level and even reach 12,500. But if the bears counterattack, the price could drop to the EMA 200.

Nasdaq

 

Dow Jones Industrial Average

The DJIA index showed mixed sentiment yesterday. The price finished the session slightly above 32,100. However, it is rising strongly today. If the buyers continue generating firm demand, the price might go up above the R1 resistance level and reach 325,00. But if the bears counterattack, the price could drop to the Pivot Point.

DJIA

 

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