Yesterday the American indices performed differently. The S&P 500 showed mixed sentiment, the NASDAQ 100 managed to rise a bit and the Dow Jones Industrial Average slightly went down. Today, all three of them are falling, though. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
The S&P 500 showed mixed sentiment yesterday. The volatility was rather low, though. The price finished the session exactly at 4150. However, it is going down today. If the buyers don’t generate some serious appetite soon, the price could drop below the S1 support level and reach the EMA 200. But if they do, the price might rise above the Pivot Point and 4150.
NASDAQ 100 was more volatile yesterday. First, the price dropped below 13260. Then, in the afternoon, it managed to rise significantly. In consequence, the price finished the session slightly above 13330. However, it is going down today. Right now the bulls are trying to defend the Pivot Point. If they do it successfully, the price might rise above 13350 today. But if they fail, the price could drop below 13300 and even reach the S1 support level.
Dow Jones Industrial Average
The DJIA index was really interesting yesterday. First, during the European trading session, the price managed to rise above 33800. Then, in the early afternoon, it dropped significantly and reached the EMA 200. After that, in the evening, the price went up once again, but only a bit. In consequence, the Dow Jones Industrial Average finished the day a little below 33680.
Today, it is going down, though. If the buyers don’t generate some serious appetite soon, the price could drop below the S1 support level and reach 33500. But if they do, the price might return above the EMA 200 and even reach the Pivot Point.