Yesterday the American indices performed differently. The S&P 500 and the Dow Jones Industrial Average went down, but the NASDAQ 100 showed mixed sentiment. 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 above 4240 and reached the R2 resistance level. Then, in the early afternoon, the price started falling heavily. It even reached 4200 in the early evening. However, during the last hours of the American trading session, the price managed to rise. In consequence, the S&P 500 finished the day at the S2 support level, slightly above 4210.
During today’s Asian trading session, the price was going down, though. It even dropped below 4200 and reached the S1 support level in the morning. However, at the beginning of the European trading session, the price started rising. If the buyers continue generating sufficient demand, the price might go up above the Pivot Point and reach 4220. But if they fail, the price could drop below today’s S1 and reach 4180.
NASDAQ 100
NASDAQ 100 also was really volatile yesterday. First the price rose above 14550 and reached the R3 resistance level. Then, in the early afternoon, it started falling heavily. The price even dropped below 14350 and the S1 support level in the early evening. However, during the last hours of the American trading session, it managed to rise. In consequence, the NASDAQ 100 finished the day exactly at the Pivot Point and 14400.
During today’s Asian trading session, the price was going down, though. It even dropped below 14340. However, at the beginning of the European trading session, the price started rising. If the buyers continue generating sufficient demand, the price might go up above the Pivot Point and reach 14450. But if they fail, the price could drop below today’s S1 support level and reach 14250.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday as well. First, during the Asian trading session, the price dropped below the S1 support level and 33150. Then it managed to rise above the Pivot Point. After that, at noon, the price started falling heavily. It even dropped below the S3 and 32950 in the afternoon. However, in the evening, the price managed to rise. In consequence, the Dow Jones Industrial Average finished the session a little above 33050.
During today’s Asian trading session, the price was going down. However, at the beginning ofthe European trading session, it started rising. If the buyers continue generating sufficient demand, the price might go up above the Pivot Point and the EMA 200. But if they fail, the price could drop below today’s S1 support level and reach 32850.
SSL Secured