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 significantly yesterday. The price finished the session exactly at the S1 support level and 4280. Today it is going down even more. If the buyers don’t generate some serious appetite soon, the price could fall below today’s S1 and 4250. But if they do, the price might reach 4280 and the Pivot Point.
NASDAQ 100
NASDAQ 100 also dropped significantly yesterday. The price finished the session below the S1 support level and the EMA 200, a little above 13500. Today it is going down even more. If the buyers don’t generate some serious appetite soon, the price could fall below 13400 and reach today’s S1. But if they do, the price might rise above 13500, the EMA 200 and the Pivot Point.
Dow Jones Industrial Average
The DJIA index went down yesterday as well. The price finished the session slightly below 34000. Today it is falling even more. If the buyers don’t generate some serious appetite soon, the price could drop below 33800 and reach the S1 support level and the EMA 200. But if they do, the price might return above the Pivot Point and reach 34000.
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