Yesterday the American indices went down. Today, the S&P 500 and the NASDAQ 100 are falling even more, but the Dow Jones Industrial Average is rising. From the data front, the U.S. Federal Open Market Committee (FOMC) minutes from the last meeting will be published. Anyway, let’s start the analysis, S&P 500 first:
S&P 500
Yesterday was a really interesting session. First, during the Asian trading session, the S&P 500 managed to rise above 4825. Then, at the beginning of the European trading session, the price started falling. It even dropped below the S2 support level and reached 4765 in the evening. However, during the last 90 minutes of the American trading session, the price managed to rise a bit. In consequence, the S&P 500 finished the day slightly below 4790.
Today, the price is falling ,though. If the buyers don’t generate some serious appetite soon, the price could drop to 4770 today. But if they do, the price might rise above the Pivot Point and even reach 4800.
NASDAQ 100
NASDAQ 100 was the weakest one yesterday. First, during the Asian trading session, the price managed to rise above the Pivot Point and 17030, though. Then, at the beginning of the European trading session, it started falling deeply. The price even dropped below the S3 support level and 16630 in the evening. However, during the last 90 minutes of the American trading session, it managed to rise a bit. In consequence, the NASDAQ 100 finished the day at 16730.
Today, the price is falling ,though. If the buyers don’t generate some serious appetite soon, the price could even drop below 16620 today. But if they do, the price might rise above 16790 and reach the Pivot Point.
Dow Jones Industrial Average
The DJIA index also was really volatile yesterday. First, during the Asian trading session, the price rose above 38110 and reached the R1 resistance level. Then, at the beginning of the European trading session, it started falling heavily. The price even dropped below the S1 support level and 37760 at the beginning of the American trading session. After that, it started rising once again. In consequence, the Dow Jones Industrial Average finished the day above the Pivot Point, at 38000.
During today’s Asian trading session, the price dropped below 37960 and reached the Pivot Point. Then, at the beginning of the European trading session, it started rising. If the buyers continue generating sufficient demand, the price might even reach 38080 today. But if the bears counterattack, the price could fall below the EMA 200 and reach 37900.
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