Yesterday was a totally bearish session for the American indices. All three of them dropped heavily. During today’s Asian trading session they went down even more, but this morning they started rising. 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 heavily yesterday. The price finished the session below the S2 support level. During today’s Asian trading session it tested 3800, but this morning the price started rising. If the buyers continue generating sufficient demand, the price might reach the EMA 200 today. But if they don’t, the price could fall below 3800.
NASDAQ 100
NASDAQ 100 also dropped heavily yesterday. The price finished the session below the S2 support level. During today’s Asian trading session it went down a bit, but this morning the price started rising. If the buyers continue generating sufficient demand, the price might return above 13000 today. But if they don’t, the price could even fall to 12500.
Dow Jones Industrial Average
That was a totally bearish session for the DJIA index as well. The price dropped heavily during the American trading session and finished the day below the S1 support level. Today the price is showing mixed sentiment. If the bulls take control over the market, the price might rise above the Pivot Point and the EMA 200 today. But if the bears show their strength once again, the price could fall to 31000.
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