Yesterday’s session was very interesting, when it comes to the American indices. First they managed to rise strongly, but then, during the last two hours of the session, they dropped significantly. However, there was still a really good day for all three of them. Today, the situation looks completely different. They are falling deeply. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
Yesterday was a pretty crazy session for the S&P 500. First the price rose strongly and tested the R1 resistance level. Then, during the last two hours of the session, it dropped to the Pivot Point. And today it’s falling even more. If the buyers don’t generate some serious appetite pretty soon, the price could fall below the S1 support level and 3700 today. But if they do, the price might return above the EMA 200 and 3800.
NASDAQ 100
NASDAQ 100 also showed high volatility yesterday. First the price rose above the EMA 200 and 13300. Then, during the last two hours of the session, it dropped significantly and finished the day slightly below the Pivot Point. Today it is falling even more. Right now the bulls are defending 13000. If they do it successfully, the price might bounce and return above the EMA 200. But if they fail, the price could drop below the S1 support level.
Dow Jones Industrial Average
Yesterday was an unconventional session for the DJIA index as well. First the price rose above the R1 resistance level. Then, during the last two hours of the session, it dropped below the EMA 200. But still the DJIA index seems to have been the strongest one yesterday. Today the price is falling strongly. If the buyers don’t generate some serious appetite pretty soon, the price could fall below 30000 and the S1 support level. But if they do, the price should return above the Pivot Point.
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