Yesterday was a shocking session. The American indices dropped heavily. Today the S&P 500 and the Dow Jones Industrial Average are going down even more, but the NASDAQ 100 is showing mixed sentiment. 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 shocking session. After falling deeply all day the S&P 500 finished the session significantly below the S2 support level, slightly below 4110. Today, at the beginning of the European trading session, it started going down even more. Right now the bulls are trying to defend 4100. If they do it successfully, the price might rise above 4110. But if they fail, the price could drop to 4090.
NASDAQ 100
NASDAQ 100 also dropped heavily yesterday. In the evening, the price even went down below 12810, but during the last hour of the American trading session, it managed to rise. In consequence, the price finished the session significantly below the S1 support level, slightly below 12920.
Today, during the first hours of the Asian trading session the price managed to rise. Then, at the beginning of the European trading session, it started going down. If the buyers don’t generate some serious appetite soon, the price could fall below the Pivot Point and 12900. But if they do, the price might reach 13000.
Dow Jones Industrial Average
The DJIA index dropped heavily yesterday as well. In the evening, the price even went down below the S2 support level, but during the last hour of the American trading session, it managed to rise. In consequence, the price finished the session slightly above 33700.
Today, at the beginning of the European trading session, it started going down even more. Right now the bulls are trying to defend 33600. If they do it successfully, the price might return above 33650. But if they fail, the price could even fall to 33500.
SSL Secured