Yesterday the American indices went down once again. 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
The S&P 500 dropped significantly once again yesterday. The price finished the session a little below the S1 support level, slightly above 3840. Today it is going down even more. Right now the bulls are trying to defend today’s S1. If they do it successfully, the price might return above 3840 today. But if they fail, the price could even fall below 3800.
NASDAQ 100
NASDAQ 100 also dropped heavily yesterday. The price finished the session slightly above the S2 support level and 11180. Today it is going down even more. Right now the bulls are trying to defend today’s S1. If they do it successfully, the price might even reach 11200. But if they fail, the price could even fall below 11000.
Dow Jones Industrial Average
The DJIA index went down yesterday as well. The price finished the session at 32940. Today it is going down even more. If the buyers don’t generate some serious appetite soon, the price could drop below the S1 support level and reach 32700. But if they do, the price might reach the Pivot Point and 33000.
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