Yesterday the American indices went down. Today all three of them are falling 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 really interesting session. First, during the early hours of the Asian trading session, the S&P 500 reached 4385. Then, the price started rising. It even went up above the Pivot Point and 4395 in the morning. After that, at the beginning of the European trading session, the price started falling heavily. It even dropped below the S2 support level and reached 4330 in the evening. However, during the last 60 minutes of the American trading session, the price managed to rise. In consequence, the S&P 500 finished the day slightly below 4350.
Today, the price is falling even more. It is already below 4330. If the buyers don’t generate some serious appetite soon, the price could drop below 4320 today. But if they do, the price might return above 4340.
NASDAQ 100
NASDAQ 100 also showed some real weakness yesterday. The price even dropped below the S1 support level and 14980 in the evening. However, during the last 60 minutes of the American trading session, it managed to rise. In consequence, the price finished the day at 15060.
Today, the NASDAQ 100 is falling even more. It is already below 14970. If the buyers don’t generate some serious appetite soon, the price could even drop to 14900 today. But if they do, the price might return above 15050.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday as well. First, during the early hours of the Asian trading session, the price reached 34050. Then, it started rising. The price even went up above the Pivot Point and reached 34150 in the morning. After that, at the beginning of the European trading session, it started falling heavily. The price even dropped below the S2 support level and 33740 in the evening. However, during the last 60 minutes of the American trading session, it managed to rise. In consequence, the Dow Jones Industrial Average finished the day at 33820.
Today, the price is falling even more. It is already below 33700. If the buyers don’t generate some serious appetite soon, the price could drop below today’s S1 and reach 33600. But if they do, the price might return above 33800.
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