Yesterday the American indices 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 Asian trading session, the S&P 500 managed to rise above the Pivot Point and reached 4380. Then, at the beginning of the European trading session, the price started falling. It even dropped below the S1 support level and 4340 at the beginning of the American trading session. After that, the price started rising once again. In consequence, the S&P 500 finished the day slightly above 4380.
During today’s Asian trading session, the price dropped below today’s S1 and 4345. Then, at the beginning of the European trading session, it started rising. If the buyers continue generating sufficient demand, the price might go up above the Pivot Point and even reach 4370 today. But if the bears counterattack, the price could fall below 4340.
NASDAQ 100
NASDAQ 100 also was really volatile yesterday. First, during the Asian trading session, the price managed to rise above 14940. Then, at the beginning of the European trading session, it started falling. The price even dropped below the S1 support level and 14790 at the beginning of the American trading session. After that, it started rising once again. In consequence, the NASDAQ 100 finished the day at 14950.
During today’s Asian trading session, the price dropped below today’s S1 and 14800. Then, at the beginning of the European trading session, it started rising. If the buyers continue generating sufficient demand, the price might go up above the Pivot Point and reach 14900. But if the bears counterattack, the price could fall to 14750 today.
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 34350. Then, at the beginning of the European trading session, it started falling. The price even dropped below the S2 support level and reached 34040 at the beginning of the American trading session. After that, it started rising once again. In consequence, the Dow Jones Industrial Average finished the day a little above the Pivot Point, slightly below 34300.
During today’s Asian trading session, the price dropped below today’s S1 and 34040. Then, at the beginning of the European trading session, it started rising. If the buyers continue generating sufficient demand, the price might go up above 34200 and reach the Pivot Point today. But if the bears counterattack, the price could even fall below 34000.
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