Yesterday the American indices showed mixed sentiment. The volatility was rather low, due to Labor Day, though. Today all three of them are falling. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
Yesterday wasn’t a really volatile session. First, during the Asian trading session, the S&P 500 managed to rise above the Pivot Point and 4130. Then, in the afternoon, it started falling. In consequence, the price finished the session a little below 4120.
Today, the S&P 500 is going down even more. It is already below today’s S1 support level and the EMA 200. If the buyers don’t generate some serious appetite soon, the price could drop below today’s S2 and 4500. But if they do, the price might return above today’s S1 and 4515.
NASDAQ 100
NASDAQ 100 also was less volatile than usual yesterday. First, the price managed to rise above the Pivot Point and 15770. Then, in the afternoon, it started falling. In consequence, the price finished the session a little above 15520.
Today, the NASDAQ 100 is going down even more. It is already below today’s S1 support level and 15470. If the buyers don’t generate some serious appetite soon, the price could drop below today’s S2 and the EMA 200. But if they do, the price might return above today’s S1 and 15500.
Dow Jones Industrial Average
The DJIA index was the weakest one yesterday. First, the price managed to rise above the Pivot Point and 34960, though. Then, in the afternoon, it started falling. In consequence, the price finished the session slightly below the EMA 200 and 34830.
During the first hours of today’s Asian trading session, the Dow Jones Industrial Average rose above 34850. Then, the price started falling. It is already below 34780. If the buyers don’t generate some serious appetite soon, the price could drop below today’s S1 support level and even reach 34700. But if they do, the price might return above 34800.
SSL Secured