Yesterday the American indices dropped heavily. Today all three of them are falling even more. What can they do next? From the data front, the CPI and core CPI in March will be published. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
The S&P 500 dropped deeply yesterday. The price finished the session significantly below the S2 support level, slightly above 4400. Today it is going down even more. The price is already below 4390. If the buyers don’t generate some serious appetite soon, the price could fall below today’s S1 and reach 4375. But if they do, the price might return above 4400.
NASDAQ 100
NASDAQ 100 also dropped heavily yesterday. The price finished the session significantly below the S2 support level, exactly at 14000. Today it is going down even more. If the buyers don’t generate some serious appetite soon, the price could fall below 13900. But if they do, the price might return above 14000.
Dow Jones Industrial Average
The DJIA index dropped heavily yesterday as well. The price finished the session slightly above the S1 support level and 34200. Today it is going down even more. Right now the bulls are trying to defend today’s S1. If they do it successfully, the price might bounce and reach 34300. But if they fail, the price could fall below 34000 and even reach 33900.
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