Yesterday the American indices performed differently. The S&P 500 and the Dow Jones Industrial Average managed to rise, but the NASDAQ 100 showed mixed sentiment. 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 4895. Then, the price started rising. It even went up above the R1 resistance level and 4925 at the beginning of the American trading session. After that, the price started falling. In consequence, the S&P 500 finished the day slightly below the R1 and 4920.
Today, the price is falling even more. If the buyers don’t generate some serious appetite soon, the price could drop below today’s S1 support level and reach 4890. But if they do, the price might return above the Pivot Point and 4910.
NASDAQ 100
NASDAQ 100 also was really volatile yesterday. First, the price rose above the R1 resistance level and 17750. Then, in the afternoon, it started falling. The price even dropped below 17550 in the evening. However, during the last two hours of the American trading session, it managed to rise a bit. In consequence, the NASDAQ 100 finished the day a little below 17560.
Today, the price is falling even more. It is already below the EMA 200 and 17480. If the buyers don’t generate some serious appetite soon, the price could drop below today’s S1 support level and reach 17400. But if they do, the price might return above the EMA 200 and reach 17550.
Dow Jones Industrial Average
The DJIA index was really volatile yesterday as well. First, during the Asian trading session, the price managed to rise above the Pivot Point and 38080. Then, in the morning, it started falling. The price even dropped below 37910 in the early afternoon. After that, it started rising strongly.
The price even went up above the R1 resistance level and 38210 in the evening. However, during the last 60 minutes of the American trading session, it dropped a bit. In consequence, the Dow Jones Industrial Average finished the day slightly below the R1, at 38150.
Today, the price is falling even more. It is already below the Pivot Point and 38070. If the buyers don’t generate some serious appetite soon, the price could drop below the EMA 200 and 38000. But if they do, the price might return above the Pivot Point and reach 38150.
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