Yesterday the American indices went down. Today, all three of them are falling even more. From the data front, all eyes will be focused on the nonfarm payrolls and unemployment rate in January today. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
The S&P 500 went down yesterday. The price finished the session below the S1 support level and 4520. Today it is falling even more. Right now the bulls are trying to defend the EMA 200 and 4500. If they do it successfully, the price might bounce and reach 4530. But if they fail, the price could drop to today’s S1 and 4470.
NASDAQ 100
NASDAQ 100 also went down yesterday, but it was a bit stronger. The price finished hte session at the EMA 200, slightly below 14760. Today it is falling even more. Right now the bulls are trying to defend the Pivot Point and 14700. If they do it successfully, the price might bounce and reach 14900. But if they fail, the price could drop to the S1 support level.
Dow Jones Industrial Average
The DJIA index was the weakest one yesterday. The price went down and finished the session significantly below the S1 support level. Today it is falling even more. Right now the bulls are trying to defend the EMA 200 and 35000. If they do it successfully, the price might bounce and return above the Pivot Point. But if they fail, the price could drop below 34900 and reach today’s S1.
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