Yesterday was a really volatile session. However, in the end, all three American indices dropped. The S&P 500 and the Dow Jones Industrial Average even finished the session below their S1 support levels. Today, all three of them are rising, though. From the data front, the PPI in August will be published. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
The volatility was really impressive yesterday. First the S&P 500 dropped below the S1 support level, then it rose to the R1 resistance level. However, it went down deeply once again in the late afternoon and finished the session below the S1. Surprisingly, the price is rising today. If the buyers continue generating firm demand, the price might rise above the R1 today. But if the bears counterattack, the price could fall below the Pivot Point and 4500.
NASDAQ 100
NASDAQ 100 also showed some high volatility yesterday. First the price dropped, then it rose 110 pips, but in the evening it went down once again and finished the session near 15660. However, it is rising strongly today. If the buyers continue generating firm demand, the price might rise above the R1 resistance level. But if the bears counterattack, the price could fall to 15550.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday as well. First the price dropped below the S1 support level, then it rose to the R1 resistance level. However, it went down deeply once again in the late afternoon and finished the session at the S1. Surprisingly, the price is rising today. If the buyers continue generating firm demand, the price might rise high above the R1 and the EMA 200 today. But if the bears counterattack, the price could fall below the Pivot Point and 35000.
SSL Secured