On Friday the American indices dropped significantly. Today all three of them are going down 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, the S&P 500 dropped below the S1 support level and 4390. Then, at the beginning of the American trading session, the price managed to rise. It even went up above the S1 and 4400 in the early evening. However, during the last two hours of the American trading session, the price started falling once again. In consequence, the S&P 500 finished the day exactly at 4390.
During today’s Asian trading session the price managed to rise above the Pivot Point and 4400. However, it started falling heavily in the morning. If the buyers don’t generate some serious appetite soon, the price could drop below 4370 today. But if they do, the price might return above 4390.
NASDAQ 100
NASDAQ 100 also was really volatile on Friday. First, the price dropped below the S1 support level and 14990. Then, at the beginning of the American trading session, it started rising. The price even went up above the Pivot Point and 15150 in the early evening. However, during the last two hours of the American trading session, the price started falling once again. In consequence, the NASDAQ 100 finished the day slightly above the S1 and 15050.
During today’s Asian trading session the price managed to rise above the Pivot Point and 15100. However, it started falling heavily in the morning. If the buyers don’t generate some serious appetite soon, the price could even drop to 14950 today. But if they do, the price might reach 15100 once again.
Dow Jones Industrial Average
The DJIA index was really volatile on Friday as well. First, the price dropped below the S2 support level and 33900. Then, at the beginning of the American trading session, it started rising. The price even went up above 34080 in the early evening. However, during the last two hours of the American trading session, the price started falling once again. In consequence, the Dow Jones Industrial Average finished the day a little below 34000.
During today’s Asian trading session the price managed to rise above the Pivot Point and 34050. However, it started falling heavily in the morning. If the buyers don’t generate some serious appetite soon, the price could even drop below 33850 today. But if they do, the price might return above 34000.
SSL Secured