Yesterday was a really interesting session. First the American indices dropped heavily, near their S3 support levels. Then, in the evening, they managed to rise strongly. In the end all three of them finished the session slightly below their Pivot Points. Today, they are going down once again, though. From the data front, the CB consumer confidence in January will be published. Anyway, let’s start the analysis, S&P 500 first:
S&P 500
Yesterday was a really volatile session. First the S&P 500 dropped heavily and tested the S3 support level. Then, in the evening, it managed to rise strongly and finished the session slightly below the Pivot Point, at 4400. Today the price is going down once again, though. Right now the bulls are trying to defend the Pivot Point. If they do it successfully, the price might bounce and even reach the EMA 200. But if they fail, the price could fall to the S1.
NASDAQ 100
NASDAQ 100 also was very volatile yesterday. First the price dropped heavily, almost tested 13700 and the S3 support level. Then, in the evening, it managed to rise strongly and finished the session slightly below the Pivot Point and 14500. Today the price is going down once again, though. Right now the bulls are trying to defend the Pivot Point. If they do it successfully, the price might bounce and reach 14600. But if they fail, the price could fall below 14000 and reach the S1.
Dow Jones Industrial Average
The DJIA index was very volatile yesterday as well. First the price dropped heavily, almost tested 33000 and the S3 support level. Then, in the evening, it managed to rise strongly and finished the session a little below the Pivot Point, at 34250. Today the price is going down once again, though. Right now the bulls are defending the Pivot Point. If they do it successfully, the price might bounce and even reach the EMA 200. But if they fail, the price could fall to the S1.
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