On Friday the American indices managed to rise. All three of them finished the last session of the week significantly above the Pivot Point. However, the indices are falling today. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
The S&P 500 rose significantly on Friday. The price finished the week a little below 4350 though, almost exactly at the EMA 200. However, it is falling today. Right now the bulls are trying to defend the Pivot Point. If they do it successfully, the price might rise above the EMA 200 today. But if they fail, the price could drop to the S1 support level.
NASDAQ 100
NASDAQ 100 also managed to rise on Friday. The price finished the last session of the week above the Pivot Point. However, it is falling deeply today. If the buyers don’t generate some serious appetite soon, the price could drop below the S1 support level. But if they do, the price might even reach the EMA 200 today.
Dow Jones Industrial Average
The DJIA index rose significantly on Friday as well. The price finished the week above the EMA 200. However, it is going down a bit today. If the buyers don’t generate some serious appetite soon, the price could drop below 33800. But if they do, the price might rise above 34400.
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