Yesterday the American indices performed differently. The S&P 500 and the NASDAQ 100 went down, but the Dow Jones Industrial Average managed to rise. Today, all three of them are falling slowly, though. From the data front, the CPI and core CPI in January will be published. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
Yesterday was a really interesting session. First, the S&P 500 rose above the R1 resistance level and 5065. Then, in the late afternoon, it started falling significantly. In consequence, the price finished the first session of the week a little above the Pivot Point, at 5035.
Today, the S&P 500 is falling slowly. The volatility is rather low, though. If the buyers don’t generate some serious appetite soon, the price could drop below today’s S1 support level and reach the EMA 200. But if they do, the price might rise above 5040 and reach the Pivot Point today.
NASDAQ 100
NASDAQ 100 was the weakest one yesterday. First, the price reached the R1 resistance level and 18120, though. Then, in the late afternoon, it started falling significantly. The price even reached 17910 in the evening. However, during the last 30 minutes of the American trading session, it managed to rise a bit. In consequence, the NASDAQ 100 finished the day a little below 17930.
During today’s Asian trading session, the price went up above 17960. Then, at the beginning of the European trading session, it started falling. If the buyers don’t generate some serious appetite soon, the price could drop below 17860 and reach today’s S1 support level. But if they do, the price might even go up above 17980 and reach the Pivot Point.
Dow Jones Industrial Average
The DJIA index was the strongest one yesterday. First, during the early hours of the Asian trading session, the price managed to rise above 38760. Then, it started falling. The price even dropped below the EMA 200 and 38680 at the beginning of the European trading session.
After that, it started rising strongly. The price even went up above the R1 resistance level and 39010 in the early evening. However, during the last four hours of the American trading session, it dropped. In consequence, the Dow Jones Industrial Average finished the day a little above 38860.
During today’s Asian trading session, the price went up above 38890. Then, at the beginning of the European trading session, it started falling. If the buyers don’t generate some serious appetite soon, the price could drop below the EMA 200 and even reach 38700 today. But if they do, the price might return above the Pivot Point and 38880.
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