Yesterday the American indices went down one more time. All three of them finished the session below their S1 support levels. Today, they are slowly rising, though. From the data front, the Philadelphia Fed manufacturing index in January will be published. Anyway, let’s start the analysis, S&P 500 first:
S&P 500
The S&P 500 dropped significantly yesterday. The price finished the session below the S1 support level, a little above 4530. However, it is rising slowly today. If the buyers continue generating sufficient demand, the price might even reach the R1 resistance level and 4590 today. But if the bears counterattack, the price could fall below 4520.
NASDAQ 100
NASDAQ 100 also dropped significantly yesterday. The price finished the session below the S1 support level, at 15050. However, it is rising today. If the buyers continue generating sufficient demand, the price might even reach the R1 resistance level today. But if the bears counterattack, the price could fall below 15000.
Dow Jones Industrial Average
The DJIA index dropped significantly yesterday as well. The price finished the session below the S1 support level, a little above 35000. However, it is rising slowly today. If the buyers continue generating sufficient demand, the price might even reach the R1 resistance level and 35400 today. But if the bears counterattack, the price could fall below 34900.
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