Friday was a shocking session for the American indices. All three of them dropped deeply. However, they are rising today. 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 on Friday. The price finished the last session of the week at the S2 support level. Today, the S&P 500 is rising, though. The price is already above the Pivot Point. If the buyers continue generating firm demand, the price might reach the R1 resistance level today and 4500. But if the bears counterattack, the price could fall below 4450.
NASDAQ 100
NASDAQ 100 also dropped deeply on Friday. The price finished the last session of the week at the S2 support level. Today, it is rising, though. If the buyers continue generating firm demand, the price might reach the EMA 200 today. But if the bears counterattack, the price could fall to 15400.
Dow Jones Industrial Average
The DJIA index dropped significantly on Friday as well. The price finished the last session of the week below the S1 support level. Today, it is rising, though. Right now the price is at the Pivot Point. If the buyers continue generating firm demand, the price might reach the R1 resistance level today. But if the bears counterattack, the price could fall below 34600.
SSL Secured