Yesterday the American indices dropped heavily. Today all three of them are going up even more. From the data front, the ADP nonfarm employment change in September will be published. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
Yesterday was a really interesting session. First, during the Asian trading session, the S&P 500 dropped below 4315. Then, in the morning, the price started rising. It even reached 4335 at the beginning of the European trading session. After that, the price started falling heavily. It even reached 4250 in the evening. However, during the last two hours of the American trading session, the price managed to rise a bit. In consequence, the S&P 500 finished the day slightly below the S2 support level, a little above 4260.
During today’s Asian trading session, the price reached 4235. Then, at the beginning of the European trading session, it started rising. If the buyers continue generating sufficient demand, the price might even reach 4270 today. But if the bears counterattack, the price could drop below 4230.
NASDAQ 100
NASDAQ 100 also was really volatile yesterday. First, during the Asian trading session, the price dropped below the Pivot Point and 14950. Then, in the morning, it started rising. The price even reached 15030 at the beginning of the European trading session. After that, it started falling heavily. The price even dropped below the S2 support level and 14660 in the evening. However, during the last 90 minutes of the American trading session, it managed to rise a bit. In consequence, the NASDAQ 100 finished the day slightly above 14710.
During today’s Asian trading session, the price dropped below 14590. Then, at the beginning of the European trading session, it started rising. If the buyers continue generating sufficient demand, the price might even reach 14750 today. But if the bears counterattack, the price could drop below 14550.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday as well. First, during the Asian trading session, the price dropped below 33550. Then, in the morning, it started rising. The price even went up above the Pivot Point and 33700 at the beginning of the European trading session.
After that, it started falling heavily. The price even dropped below the S2 support level and 33120 in the evening. However, during the last two hours of the American trading session, it managed to rise a bit. In consequence, the Dow Jones Industrial Average finished the day a little above the S2 and 33170.
During today’s Asian trading session, the price dropped below 33020. Then, at the beginning of the European trading session, it started rising. If the buyers continue generating sufficient demand, the price might even reach 33300. But if the bears counterattack, the price could drop below 33000.
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