Yesterday the American indices performed differently. The S&P 500 and the NASDAQ 100 went down, but the Dow Jones Industrial Average managed to rise. Today all three of them are falling, though. From the data front, all eyes will be focused on the nonfarm payrolls and unemployment rate in December. Anyway, let’s start 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 managed to rise above 4755. Then, at the beginning of the European trading session, the price started falling. It even dropped below 4740 at the beginning of the American trading session.
After that, the price started rising once again. Two hours later, it even went up above the Pivot Point and 4765. Right after that, the price started falling one more time, though. It even dropped below the S1 support level and 4730 in the evening. However, during the last 60 minutes of the American trading session, the price managed to rise a bit. In consequence, the S&P 500 finished the day slightly above the S1 and 4730.
Today, the price is falling, though. If the buyers don’t generate some serious appetite soon, the price could drop below 4720 and reach today’s S1. But if they do, the price might rise above 4740 and reach the Pivot Point today.
NASDAQ 100
NASDAQ 100 was the weakest one yesterday. First, during the Asian trading session, the price managed to rise above 16580, though. Then, at the beginning of the European trading session, it started falling. The price even dropped below the S1 support level and 16450 at the beginning of the American trading session.
After that, it started rising once again. Two hours later, the price returned above 16580. Right after that, it started falling one more time, though. The price even dropped below 16440 in the evening. However, during the last 60 minutes of the American trading session, it managed to rise a bit. In consequence, the NASDAQ 100 finished the day below the S1, at 16450.
Today, the price is falling, though. It is already below 16420. If the buyers don’t generate some serious appetite soon, the price could drop below today’s S1 and reach 16350. But if they do, the price might even reach the Pivot Point today.
Dow Jones Industrial Average
The DJIA index was the strongest one yesterday. First, the price rose above the R1 resistance level and 37980. Then, in the afternoon, it started falling. The price even dropped below 37700 in the evening. However, during the last 60 minutes of the American trading session, it managed to rise a bit. In consequence, the Dow Jones Industrial Average finished the day a little above 37750.
Today, the price is falling, though. It is already below 37700. If the buyers don’t generate some serious appetite soon, the price could drop below 37650 and reach today’s S1 support level. But if they do, the price might even reach 37800 today.
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