On Friday 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
Friday was a really interesting session. First, during the Asian trading session, the S&P 500 dropped below 4285. Then, at the beginning of the European trading session, the price started rising. Two hours later, it even went up above 4300. After that, the price started falling heavily, though. In consequence, the S&P 500 finished the last session of the week significantly below the S1 support level, slightly below 4250.
During the first hours of today’s Asian trading session, the price rose above 4260. Then, it started falling. If the buyers don’t generate some serious appetite soon, the price could drop below 4240 today. But if they do, the price might even reach the Pivot Point.\
NASDAQ 100
NASDAQ 100 also was really volatile yesterday. First, during the Asian trading session, the price dropped below 14800. Then, at the beginning of the European trading session, it started rising. Two hours later, the price even went up above 14880. However, at the beginning of the American trading session, it started falling heavily. In consequence, the NASDAQ 100 finished the day below the S1 support level, a little above 14660.
During the first hours of today’s Asian trading session, the price rose above 14710. Then, it started falling. If the buyers don’t generate some serious appetite soon, the price could drop to 14600 today. But if they do, the price might reach the Pivot Point.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday as well. First, during the Asian trading session, the price reached 33430. Then, at the beginning of the European trading session, it started rising. 90 minutes later, the price even went up above 33550. However, at the beginning of the American trading session, it started falling heavily. In consequence, the Dow Jones Industrial Average finished the day below the S1 support level, a little above 33250.
During the first hours of today’s Asian trading session, the price reached 33330. Then, it started falling. If the buyers don’t generate some serious appetite soon, the price could drop below 33100 today. But if they do, the price might reach the Pivot Point.
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