Yesterday the American indices dropped heavily. Today all three of them are going down 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 shocking session. The S&P 500 dropped deeply and finished the day slightly above the S3 support level, below 3950. Today it is going down even more. If the buyers don’t generate some serious appetite soon, the price could fall below 3930 today. But if they do, the price might rise above 3950.
NASDAQ 100
NASDAQ 100 also dropped heavily yesterday. The price finished the session significantly below the S1 support level, a little above 11480. Today, it is going down even more. If the buyers don’t generate some appetite soon, the price could fall to the S1 support level and 11380. But if they do, the price might rise above 11500 and reach the EMA 200.
Dow Jones Industrial Average
The DJIA index dropped deeply yesterday as well. The price finished the session significantly below the S2 support level, slightly below 33400. Today it is going down even more. If the buyers don’t generate some serious appetite soon, the price could even fall to 33100 today. But if they do, the price might rise above 33400.
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