On Friday, the S&P 500 and the Dow Jones Industrial Average showed mixed sentiment, but the NASDAQ 100 dropped. 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 and the volatility was rather low. The price finished the last session of the week slightly below the Pivot Point. However, it is going down today. The price is already below the S1 support level. Right now the bulls are trying to defend the EMA 200. If they do it successfully, the price might rise above the Pivot Point today. But if they fail, the price could drop below 4350.
NASDAQ 100
NASDAQ 100 went down on Friday. The price finished the week slightly above 14800 and the EMA 200. Today it is falling even more. Right now the bulls are trying to defend the S1 support level. If they do it successfully, the price might bounce and rise above the Pivot Point today. But if they fail, the price could drop below the S2 and 14650.
Dow Jones Industrial Average
The DJIA index showed mixed sentiment on Friday and the volatility was rather low. The price finished the last session of the week a little above the Pivot Point. However, it is going down today. Right now the bulls are trying to defend the S1 support level. If they do it successfully, the price might bounce and reach the R1 resistance level today. But if they fail, the price could drop below the S2 and the EMA 200.
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