Yesterday the American indices dropped deeply. All three of them finished the session below their S4 support levels. Today they are showing mixed sentiment. From the data front, the U.S. Federal Open Market Committee (FOMC) minutes from the last meeting will be published. Anyway, let’s move on to the the analysis, S&P 500 first:
S&P 500
The S&P 500 dropped deeply yesterday. The price finished the session significantly below the S4 support level, slightly below 4010. Today it is showing mixed sentiment. If the bulls take control over the market, the price might reach the Pivot Point and 4030. But if the bears show their strength once again, the price could fall to 3990.
NASDAQ 100
NASDAQ 100 also dropped deeply yesterday. The price finished the session significantly below the S4 support level, slightly above 12100. Today it is showing mixed sentiment. If the bulls take control over the market, the price might rise above the Pivot Point and reach the EMA 200. But if the bears show their strength once again, the price could fall to 12000.
Dow Jones Industrial Average
The DJIA index dropped deeply yesterday as well. The price finished the session significantly below the S4 support level, slightly below 33200. Today it is showing mixed sentiment. If the bulls take control over the market, the price might rise above 33300. But if the bears show their strength once again, the price could fall below 33100.
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