Yesterday all three American indices dropped heavily and finished the session below their S1 support levels. Today all three of them are going down even more. From the data front, the U.S. Federal Open Market Committee (FOMC) minutes from the last meeting will be published. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
The S&P 500 dropped heavily yesterday. The price finished the session significantly below the S1 support level, slightly above 4520. Today it is going down even more. If the buyers don’t generate some serious appetite soon, the price could fall below 4500 today. But if they do, the price might even reach 4530.
NASDAQ 100
NASDAQ 100 also dropped deeply yesterday. The price finished the session significantly below the S1 support level, at 14850. Today it is going down even more. The price is already below 14800. If the buyers don’t generate some serious appetite soon, the price could fall below 14700 today. But if they do, the price might rise above 14900 or even reach the Pivot Point.
Dow Jones Industrial Average
The DJIA index dropped significantly yesterday as well. The price finished the session slightly below the S1 support level and 34600. Today it is going down even more. If the buyers don’t generate some serious appetite soon, the price could fall below 34400 today. But if they do, the price might return above 34600.
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