Yesterday the American indices performed differently. The S&P 500 and the NASDAQ 100 dropped, but the Dow Jones Industrial Average showed mixed sentiment. However, all three of them are falling significantly today. From the data front the CB consumer confidence in September will be published. Anyway, let’s start the analysis, S&P 500 first:
Yesterday was a really interesting session. First the S&P 500 rose above the R1 resistance level, but then it dropped and finished the session below the Pivot Point. However, the price is falling deeply today. It’s already below the S1 support level. Right now the bulls are trying to defend 4400. If they do it successfully, the price might return above the EMA 200. But if they fail, the price could go down below the S2.
NASDAQ 100 was the weakest one yesterday. The price finished the session below the S1 support level. Today it is falling even more. The price is already below today’s S1. Right now the bulls are trying to defend 15000. If they do it successfully, the price might return above 15150. But if they fail, the price could reach 14900 today.
Dow Jones Industrial Average
The DJIA index showed mixed sentiment yesterday. First the price rose above the R2 resistance level, but the bulls weren’t strong enough to stay above that level, so it dropped in the afternoon and finished the session slightly below the R1. However, the price is going down today. Right now the bears are attacking the S1 support level. If the buyers don’t manage to defend that level, the price could fall below the S2 today. But if they do, the price might rise above the Pivot Point.