Yesterday the American indices rose significantly. 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:
S&P 500
Yesterday was a really interesting session. First, the S&P 500 rose above the R1 resistance level and 4490. Then, at the beginning of the American trading session, the price started falling. Two hours later, it even dropped below 4470. After that, the price started rising once again. In consequence, the S&P 500 finished the session slightly below 4490.
Today, the price is falling, though. Right now the bulls are trying to defend the Pivot Point and 4480. If they do it successfully, the price might reach 4490 today. But if they fail, the price could drop below 4470 and even reach today’s S1 support level.
NASDAQ 100
NASDAQ 100 also was really volatile yesterday. First, the price rose above the R1 resistance level and 15440. Then, at the beginning of the American trading session, it started falling. One hour later, the price even dropped below 15340. After that, it started rising once again. In consequence, the price finished the session a little above the R2, at 15470.
Today, the NASDAQ 100 is falling, though. It is already below 15440. If the buyers don’t generate some serious appetite soon, the price could drop below 15400 and reach the EMA 200. But if they do, the price might even reach 15500 today.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday as well. First, the price rose above the R2 resistance level and 34800. Then, at the beginning of the American trading session, it started falling. Two hours later, the price even dropped below the EMA 200 and 34600. After that, it started rising once again. In consequence, the price finished the session slightly below the R1, at 34680.
Today, the Dow Jones Industrial Average is falling, though. It is already below the EMA 200. If the buyers don’t generate some serious appetite soon, the price could drop below 34600 and reach today’s S1 support level. But if they do, the price might even reach the Pivot Point today.
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