Yesterday, the American indices dropped heavily. Today, they are going down even more. From the data front, the minutes of the last meeting of the FOMC will appear. 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 below the S2 support level. Today, it is going down even more. Right now the bulls are trying to defend 4100. If they do it successfully, the price might rise to the Pivot Point. But if they fail, the price could even fall to today’s S2.
NASDAQ 100
NASDAQ 100 also dropped significantly yesterday. The price finished the session at the S1 support level. Today, it is going down even more. The price is already below today’s S1 and 13100. If the buyers don’t generate some serious demand soon, the price could even fall below the S2 and 13000. But if they do, the price might rise near the Pivot Point.
Dow Jones Industrial Average
The DJIA index dropped deeply yesterday as well. The price finished the session below the S1 support level. Today, it is going down even more. If the buyers don’t generate some serious appetite soon, the price could fall below today’s S1. But if they do, the price might rise above the Pivot Point and even reach the EMA 200.