Yesterday the American indices managed to rise. Today all three of them are falling, though. 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 dropped below the Pivot Point and 4245. Then, the price started rising significantly. It even went up above 4280 and reached the R1 resistance level at the beginning of the American trading session. After that, the price started falling once again, though. It returned below the Pivot Point and 4245 in the late afternoon. However, the price managed to rise in the evening. In consequence, the S&P 500 finished the session a little below 4270.
During today’s Asian trading session, the price dropped below 4250. Then, at the beginning of the European trading session, it started rising. If the buyers continue generating sufficient demand, the price might return above the Pivot Point and reach 4270 today. But if the bears counterattack, the price could fall below the S1 support level and reach 4230.
NASDAQ 100
NASDAQ 100 also was really volatile yesterday. First, during the early hours of the Asian trading session, the price reached 14720. Then, it started rising. The price even went up above the EMA 200 and 14870 at the beginning of the American trading session. After that, it started falling once again, though. The price even dropped below 14710 and reached the Pivot Point in the late afternoon. However, it managed to rise in the evening. In consequence, the NASDAQ 100 finished the session a little below 14830.
During today’s Asian trading session, the price dropped below 14720. Then, at the beginning of the European trading session, it started rising. If the buyers continue generating sufficient demand, the price might return above the Pivot Point and reach the EMA 200 today. But if the bears counterattack, the price could fall below the S1 support level and reach 14650.
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 dropped below 33060. Then, it started rising significantly. The price even went up above the R1 resistance level and 33390 at the beginning of the American trading session. After that, it started falling once again, though. The price dropped below 33110 in the late afternoon. However, it managed to rise in the evening. In consequence, the Dow Jones Industrial Average finished the session slightly above the R1, at 33350.
During today’s Asian trading session, the price dropped below the Pivot Point and reached 33230. Then, at the beginning of the European trading session, it started rising. If the buyers continue generating sufficient demand, the price might even reach the EMA 200 and 33400 today. But if the bears counterattack, the price could fall to the S1 support level and 33100.
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