Yesterday the American indices performed differently. The S&P 500 showed mixed sentiment, the NASDAQ 100 dropped deeply and the Dow Jones Industrial Average rose strongly. Today, all three of them are going down, though. From the data front, the ADP nonfarm employment change in December and 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:
The S&P 500 showed mixed sentiment yesterday. First the price rose above the R1 resistance level and set the new all-time high. Then it dropped below the Pivot Point and the EMA 200. In the evening it went up one more time and finished the session slightly above 4780. During the first hours of today’s Asian trading session, the price went down below 4770, but then it started rising. If the buyers continue generating sufficient demand, the price might go up above the Pivot Point and 4790 today. But if the bears counterattack, the price could fall to the S1 support level.
NASDAQ 100 dropped deeply yesterday. The price finished the session slightly above the S1 support level, at 15260. Today it is going down even more. If the buyers don’t generate some serious appetite soon, the price could even fall below 16100 today. But if they do, the price might rise above the Pivot Point.
Dow Jones Industrial Average
Yesterday was a great bullish session for the DJIA index. The price rose strongly, set the new all-time high and finished the session a little below the R2 resistance level, above 36650. Today it is showing mixed sentiment, though. If the buyers show their strength once again, the price might rise above 36800 and set the new all-time high. But if the bears counterattack, the price could even drop to the S1 support level.