Yesterday the American indices surprisingly dropped. NASDAQ 100 went down below the S2 support level, the S&P 500 finished the day below the S1, and the Dow Jones Industrial Average only fell a little below 34000. However, all three of them are slowly rising today. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
The S&P 500 dropped significantly yesterday. The price finished the day below the S1 support level. Today it is slowly going up, though. If the buyers continue generating sufficient demand, the price might rise above the R1 resistance level today. But if the bears show their strength once again, the price could fall to the EMA 200.
NASDAQ 100 was the weakest one yesterday. The price dropped heavily and finished the day at the S2 support level yesterday. Today the price is rising, though. Right now the bulls are attacking the Pivot Point. If they do it successfully, the price might go up above 14000 today and even reach the R1 resistance level. But if the bears show their strength once again, the price could even fall to the S1.
Dow Jones Industrial Average
The DJIA index wasn’t as weak as the others yesterday. The price only slightly dropped and finished the day a little below 34000. Today, the price is rising, but also at a much slower pace than the other two indices. If the buyers finally show their strength, the price might even rise to the R2 resistance level. But if the bears take control over the market, the price could drop to the S1 support level.