Yesterday the American indices went down. Today all three of them are falling even more. 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 heavily yesterday. The price finished the session below the S1 support level and the EMA 200, a little above 3860. Today it is going down even more. The price is already below today’s S1 and 3830. If the buyers don’t generate some serious appetite soon, the price could fall below today’s S2 and 3820. But if they do, the price might return above today’s S1 and 3840.
NASDAQ 100
NASDAQ 100 also dropped heavily yesterday. The price finished the session significantly below the S1 support level and the EMA 200, at 11900. Today it is going down even more. Right now the bulls are trying to defend today’s S1 and 11800. If they do it successfully, the price might return above 11850 today. But if they fail, the price could even fall to 11700.
Dow Jones Industrial Average
The DJIA index dropped significantly yesterday as well. The price finished the session at the S1 support level, slightly below 31200. Today it is going down even more. The price is already below today’s S1 and 30950. If the buyers don’t generate some serious appetite soon, the price could fall below 30900 and today’s S2. But if they do, the price might return above today’s S1 and 31000.
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