Yesterday the American indices performed differently. The S&P 500 managed to rise, but the NASDAQ 100 and the Dow Jones Industrial Average showed mixed sentiment. Today all three of them are going down a bit, though. 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 was the strongest one yesterday. The price started rising significantly at the beginning of the American trading session. It finished the day a little above 4290. During today’s Asian trading session, the price started going down. The volatility is rather low today, though. Right now the bulls are trying to defend the Pivot Point. If they do it successfully, the price might bounce and reach the R1 resistance level and 4300. But if they fail, the price could drop to the S1 support level and 4270.
NASDAQ 100
NASDAQ 100 showed mixed sentiment yesterday. The price finished the session exactly at the Pivot Point, slightly below 14600. During today’s Asian trading session, the price started going down. It even dropped below 14550 in the morning. However, at the beginning of the European trading session, the price started rising. Right now the bulls are attacking the Pivot Point. If they do it successfully, the price might go up above 14600 and reach the R1 resistance level. But if they fail, the price could drop to the S1 support level and the EMA 200.
Dow Jones Industrial Average
The DJIA index also showed mixed sentiment yesterday. In the afternoon, the price dropped below the S1 support level and reached the EMA 200. Then, in the evening, it started rising. In consequence, the price finished the session a little above 33600.
During today’s Asian trading session, the price started going down. The volatility is rather low today, though. Right now the bulls are trying to defend the Pivot Point. If they do it successfully, the price might bounce and reach the R1 resistance level and 33700. But if they fail, the price could drop below the EMA 200 and reach the S1 support level.
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