Yesterday all three American indices dropped significantly. Today all three of them are still falling deeply. From the data front, JOLTs job openings in July will be published. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
The S&P 500 dropped heavily yesterday. The price finished the session slightly above the S2 support level. Today it is going down even more. It’s already below today’s S1. If the buyers don’t generate some serious appetite, the price could fall significantly below 4500. But if they do, the price might rise to the Pivot Point.
NASDAQ 100
NASDAQ 100 dropped a bit yesterday. The volatility was impressive, though. First the bears tested the S2 support level, then the price rose above the Pivot Point, but in the evening it went down once more. In consequence, the price finished the session slightly above the S1. Today it is falling even more. It’s already below today’s S1. If the buyers don’t generate some serious appetite, the price could drop to the S2. But if they do, the price might rise above the EMA 200.
Dow Jones Industrial Average
The DJIA index was the weakest one yesterday. The price dropped deeply and finished the session significantly below the S2 support level. Today it is going down even more. It’s already below today’s S1. If the buyers don’t generate some serious appetite, the price could fall below 34800. But if they do, the price might rise to the Pivot Point.
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