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. 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, during the Asian trading session, the S&P 500 dropped significantly below the S2 support level and reached 4500. Then, in the morning, the price started rising. It even reached 4520 in the afternoon. After that, the price started falling once again. In consequence, the S&P 500 finished the session exactly at 4500.
Today, the price is going down even more. It is already below today’s S1. If the buyers don’t generate some serious appetite soon, the price could drop to today’s S2 and reach 4485. But if they do, the price might return above today’s S1 and reach 4500.
NASDAQ 100
NASDAQ 100 also was really volatile yesterday. First, during the Asian trading session, the price dropped below the S2 support level and 15420. Then, in the morning, it started rising strongly. The price even went up above the R1 resistance level and 15580 in the evening. However, it dropped significantly during the last two hours of yesterday’s American trading session. In consequence, the NASDAQ 100 finished the day slightly below 15520.
During the first hours of today’s Asian trading session, the price managed to rise above 15530. Then, it started falling. The price is already below the EMA 200. If the buyers don’t generate some serious appetite soon, the price could drop below 15450 and reach today’s S1. But if they do, the price might return above 15500 and reach the Pivot Point.
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 reached 34750. Then, in the morning, it started rising. The price even went up above 34910 at the beginning of the American trading session. After that, it started falling heavily. In consequence, the Dow Jones Industrial Average finished the day a little above the S2 support level, at 34690.
During the first hours of today’s Asian trading session, the price managed to rise above 34700. Then, it started falling. If the buyers don’t generate some serious appetite soon, the price could drop below today’s S1 and 34600. But if they do, the price might reach 34700 again today.
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