Yesterday the American indices dropped deeply. Today, all three of them are falling even more. 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 S3 support level and 4450. Then, in the evening, it managed to rise. In consequence, the price finished the session a little below 4470.
During today’s Asian trading session, the S&P 500 fell below 4455, though. Then, at the beginning of today’s European trading session, it started rising. If the buyers continue generating sufficient demand, the price might go up above 4470 and the Pivot Point. But if the bears counterattack, the price could drop below 4450 today.
NASDAQ 100
NASDAQ 100 also was really volatile yesterday. First, during the early hours of the Asian trading session, the price managed to rise above 15530. Then, it started falling deeply. The price even dropped below the S2 support level and reached 15310 in the early evening. However, during the last hours of yesterday’s American trading session, it managed to rise. In consequence, the NASDAQ 100 finished the day slightly below 15390.
During today’s Asian trading session, the price dropped below 15310, though. Then, at the beginning of today’s European trading session, it started rising. If the buyers continue generating sufficient demand, the price might return above 15350 today. But if the bears counterattack, the price could fall below 15300.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday as well. First, the price dropped below the S2 support level and 34320. Then, in the evening, it managed to rise. In consequence, the price finished the session slightly above 34460.
During today’s Asian trading session, the Dow Jones Industrial Average fell below 34380, though. Then, at the beginning of today’s European trading session, it started rising,. If the buyers continue generating sufficient demand, the price might go up above the Pivot Point and reach 34550 today. But if the bears counterattack, the price could drop below 34350.
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