Yesterday the American indices dropped heavily. Today all three of them are rising, though. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
The S&P 500 dropped deeply yesterday. The price finished the session slightly below the S4 support level, a little above 3970. However, it is rising today. If the buyers continue generating firm demand, the price might even go up above 4000 and reach the EMA 200. But if the bears counterattack, the price could return below 3980.
NASDAQ 100
NASDAQ 100 also dropped heavily yesterday. The price finished the session significantly below the S2 support level, slightly above 16220. However, it is rising today. If the buyers continue generating firm demand, the price might even go up above the EMA 200 and reach the R1 resistance level and 11750. But if the bears counterattack, the price could return below 11650.
Dow Jones Industrial Average
The DJIA index dropped deeply yesterday as well. The price finished the session significantly below the S3 support level, a little above 33850. However, it is rising today. If the buyers continue generating firm demand, the price might go up above 34050 and even reach the EMA 200. But if the bears counterattack, the price could drop to 33850.
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