Yesterday all three American indices went down one more time this week. Today they are falling even more. From the data front, the ISM manufacturing PMI in September will be published. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
Yesterday was another shocking session. The S&P 500 dropped significantly below the S2 support level and finished the day below 4300. Today it is falling even more. Right now the bulls are trying to defend today’s S1. If they do it successfully, the price might bounce and even reach the Pivot Point. But if they fail, the price could go down below 4250.
NASDAQ 100
NASDAQ 100 dropped yesterday, but it wasn’t as weak as the other two indices. The price finished the session a little above the S1 support level. Today it is falling even more. Right now the bulls are trying to defend today’s S1. If they do it successfully, the price might bounce and even reach the R1 resistance level. But if they fail, the price could go down below the S2.
Dow Jones Industrial Average
The DJIA index also dropped heavily yesterday. The price finished the session at the S3 support level. Today it is falling even more. Right now the bulls are trying to defend today’s S1. If they do it successfully, the price might bounce and even reach the Pivot Point. But if they fail, the price could go down below 33200.
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