On Friday the American indices showed mixed sentiment. Today all three of them are going down, though. 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 showed mixed sentiment on Friday. The price finished the week at 3900. Today, it is going down, though. Right now the bulls are trying to defend the S1 support level and 3870. If they do it successfully, the price might bounce and reach the Pivot Point. But if they fail, the price could drop below 3850.
NASDAQ 100
NASDAQ 100 also showed mixed sentiment on Friday. The price finished the week a little above 12150. Today, it is going down, though. If the buyers don’t generate some serious appetite soon, the price could drop below the S1 support level and 12000. But if they do, the price might return above the Pivot Point and 12100.
Dow Jones Industrial Average
The DJIA index showed mixed sentiment on Friday as well. The price finished the week slightly above 31300. Today, it is going down, though. The price is already below the S1 support level and the EMA 200. If the buyers don’t generate some serious appetite soon, the price could drop below today’s S2 and 31000. But if they do, the price might return above 31200.
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