Yesterday the American indices dropped heavily. During today’s Asian trading session all three of them went down even more, but this morning they started rising. From the data front, building permits in December 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 a little above the S3 support level. During today’s Asian trading session, the price went down to the S1, but this morning it started rising. If the buyers continue generating firm demand, the price might go up above the Pivot Point and reach 4600. But if the bears counterattack, the price could fall below today’s S1 and 4540.
NASDAQ 100
NASDAQ 100 also dropped heavily yesterday. The price finished the session significantly below the S3 support level, at 15240. During today’s Asian trading session, the price went down to the S1, but this morning it started rising. If the buyers continue generating firm demand, the price might go up above the Pivot Point and reach 15400. But if the bears counterattack, the price could fall below today’s S1 and reach 15000.
Dow Jones Industrial Average
The DJIA index dropped deeply yesterday as well. The price finished the session at the S3 support level and 35300. During today’s Asian trading session, the price went down even more, but this morning it started rising. If the buyers continue generating firm demand, the price might go up above the Pivot Point and reach 35500. But if the bears counterattack, the price could fall below today’s S1 and 35000.
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