Yesterday the American indices dropped heavily one more time. However, all three of them are rising strongly today. From the data front, building permits in August 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 significantly below the S2 support level, a little above 4340. However, the price is rising strongly today. If the buyers continue generating firm demand, the price might rise above the R1 resistance level and the EMA 200 today. But if the bears counterattack, the price could fall to the Pivot Point.
NASDAQ 100
NASDAQ 100 also dropped heavily yesterday. The price finished the session significantly below the S2 support level, at 14490. However, the price is rising strongly today. If the buyers continue generating firm demand, the price might rise above the R1 resistance level and the EMA 200 today. But if the bears counterattack, the price could fall below the Pivot Point.
Dow Jones Industrial Average
The DJIA index dropped deeply yesterday as well. The price finished the session below the S3 support level. However, the price is rising strongly today. If the buyers continue generating firm demand, the price might rise above the R1 resistance level and the EMA 200 today. But if the bears counterattack, the price could fall to the Pivot Point.
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