Yesterday all three American indices went down significantly. However, they are rising 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 dropped deeply yesterday. The price finished the session below the S2 support level, at 3990. However, it is rising today. Right now the bulls are attacking the Pivot Point and 4020. If they do it successfully, the price might bounce and even reach the R1 resistance level and 4070. But if they fail, the price could go down to 3960.
NASDAQ 100
NASDAQ 100 also dropped heavily yesterday. The price finished the session below the S2 support level, a little above 12200. However, it is rising today. The price is already above the Pivot Point and 12340. If the buyers continue generating firm demand, the price might even reach 12500 and the R1 resistance level today. But if the bears counterattack, the price could fall to 12100.
Dow Jones Industrial Average
The DJIA index dropped significantly yesterday as well. The price finished the session slightly above the S2 support level, at 32200. However, it is rising today. The price is already above the Pivot Point and 32300. If the buyers continue generating firm demand, the price might go up above 32500 and the R1 resistance level. But if the bears counterattack, the price could fall to 32000.
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