Daily Outlook for NASDAQ 100, S&P 500 and Dow Jones Industrial Average

Yesterday the American indices went down. Today, all three of them are falling even more. 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 dropped below 5135. Then, at the beginning of the American trading session, the price started rising. It even went up above 5155 in the evening. However, during the last two hours of the American trading session, the price dropped. In consequence, the S&P 500 finished the day slightly above 5130.

Today, the price is falling even more. Right now the bulls are trying to defend today’s S1 support level. If they do it successfully, the price might even reach the Pivot Point and 5140. But if they fail, the price could drop below 5115 and reach the EMA 200 today.

NASDAQ 100

NASDAQ 100 also was really volatile yesterday. First, during the Asian trading session, the price managed to rise above 18370. Then, at the beginning of the European trading session, it started falling. In consequence, the price finished the day a little below the Pivot Point, slightly above 18240.

Today, the NASDAQ 100 is falling even more. It is already below today’s S1 support level and 18160. If the buyers don’t generate some serious appetite soon, the price could even drop below today’s S2 and 18100. But if they do, the price might return above 18230 today.

Dow Jones Industrial Average

The DJIA index was really volatile yesterday as well. First, the price dropped below the S1 support level and reached 38900. Then, at the beginning of the American trading session, it started rising. The price went up above 39120 in the evening. However, during the last two hours of the American trading session, it dropped. In consequence, the Dow Jones Industrial Average finished the day at 38990.

Today, the price is falling even more. It is already below 38940. If the buyers don’t generate some serious appetite soon, the price could even drop below 38880 and reach today’s S1. But if they do, the price might reach the Pivot Point and 39000 today.