Yesterday the American indices performed differently. The S&P 500 and the NASDAQ 100 managed to rise, but the Dow Jones Industrial Average showed mixed sentiment. Today all three of them are falling, though. 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 really interesting session. First, the S&P 500 dropped below the S1 support level and 4400. Then, in the early afternoon, it started rising strongly. In consequence, the price finished the session high above the Pivot Point and the EMA 200, slightly above 4420.
Today the S&P 500 is falling heavily, though. The price is already below today’s S1. Right now the bulls are trying to defend 4400. If they do it successfully, the price might reach the Pivot Point. But if they fail, the price could drop below 4390 today.
NASDAQ 100
NASDAQ 100 also was really volatile yesterday. First, the price dropped below 14970. Then, at the beginning of the American trading session, it started rising strongly. In consequence, the price finished the day above the R1 resistance level and 15230.
Today the NASDAQ 100 is falling heavily, though. The price is already below the Pivot Point and the EMA 200. If the buyers don’t generate some serious appetite soon, the price could drop below 15100 and even reach the S1 support level today. But if they do, the price might reach 15200.
Dow Jones Industrial Average
The DJIA index was the weakest one yesterday. First, the price dropped below the S1 support level and 34100. Then, at the beginning of the American trading session, it started rising. In consequence, the price finished the day slightly below the Pivot Point and 34250.
During today’s Asian trading session, the Dow Jones Industrial Average dropped below today’s S1 and 34050. Then, in the morning, the price managed to rise above 34100 and reached today’s S1. However, at the beginning of the European trading session, it started falling once again. If the buyers don’t generate some serious appetite soon, the price could drop below today’s S2 and 34000. But if they do, the price might reach 34200 and the Pivot Point today.
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