Yesterday the American indices performed differently. The S&P 500 and the NASDAQ 100 managed to rise, but the Dow Jones Industrial Average went down. Today all three of them are falling, though. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
Yesterday was a really interesting session. First, the S&P 500 rose significantly. The price even reached 4220 in the evening. However, during the last two hours of the American trading session, it went down. In consequence, the price finished the day exactly at the Pivot Point, slightly below 4210.
During the first hours of today’s Asian trading session, the S&P 500 rose significantly. The price even reached the R1 resistance level. Then, it started going down, though. Right now the bulls are trying to defend 4200. If they do it successfully, the price might bounce and reach 4220. But if they fail, the price could drop to the S1 support level and the EMA 200.
NASDAQ 100
NASDAQ 100 was also really volatile yesterday. First, the price rose significantly. It even reached the R1 resistance level at the beginning of the American trading session. Then, the price went down and reached the Pivot Point. However, in the late afternoon, it started rising one more time. The price even reached the R1 once again in the evening. After that, during the last two hours of the American trading session, the NASDAQ 100 fell a bit and finished the day slightly below 13920.
During the first hours of today’s Asian trading session, the price rose significantly. It even reached the R1 resistance level. Then, it started going down, though. Right now the bulls are trying to defend 13900. If they do it successfully, the price might bounce and reach 13950. But if they fail, the price could drop to 13850.
Dow Jones Industrial Average
The DJIA was really volatile yesterday as well. First, the price rose significantly. It even reached the Pivot Point in the early afternoon. Then, at the beginning of the American trading session, the price dropped below the S1 support level. After that, it has been showing mixed sentiment for the rest of the day. In consequence, the Dow Jones Industrial Average finished the session slightly above the S1, below 33400.
During the first hours of today’s Asian trading session, the price managed to rise above the EMA 200. Then, it started going down significantly, though. If the buyers don’t generate some serious appetite soon, the price could drop to the S1 support level. But if they do, the price might reach 33400 and the Pivot Point.
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