Yesterday the American indices went down once again. 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, the S&P 500 dropped below the S1 support level and 4410. Then, in the late afternoon, the price started rising. It even reached the Pivot Point and 4430 in the evening. However, during the last two hours of the American trading session, the price went down once again. In consequence, the S&P 500 finished the day below the S1, at 4410.
Today the price is falling even more. It is already below 4400. Right now the bulls are trying to defend today’s S1. If they do it successfully, the price might reach 4410. But if they fail, the price could drop to 4380.
NASDAQ 100
NASDAQ 100 also was really volatile yesterday. First, the price dropped below the S2 support level. Then, in the late afternoon, it started rising. The price even reached the S1 in the evening. However, during the last two hours of the American trading session, it went down once again. In consequence, the price finished the day slightly below the S2 and 15050.
Today the NASDAQ 100 is falling even more. The price is already below 15000. If the buyers don’t generate some serious appetite soon, the price could drop to 14950 today. But if they do, the price might reach 15050.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday as well. First, the price dropped below the S1 support level. Then, at the beginning of the American trading session, it started rising. The price even went up above the Pivot Point and 34350 in the evening. However, during the last two hours of the American trading session, it went down once again. In consequence, the price finished the day a little below 34250.
Today the Dow Jones Industrial Average is falling even more. The price is already below today’s S1. If the buyers don’t generate some serious appetite soon, the price could drop to 34050. But if they do, the price might return above 34200.
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