Yesterday the volatility wasn’t so high, but the American indices performed differently. NASDAQ 100 went up and finished the day a little below the R1 resistance level, but the S&P 500 and Dow Jones Industrial Average showed mixed sentiment. However, all three of them are falling today. From the data front the manufacturing PMI and markit composite PMI will be published in the US. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
The S&P 500 showed mixed sentiment yesterday and the volatility was really low. However, the price is falling deeply today. Just a moment ago it has tested the S2 support level and has managed to bounce from there. Now, if the buyers manage to continue generating the appetite, the price might rise above the Pivot Point. But if they fail, the price could drop below the EMA 200 or even test 3800.
NASDAQ 100
NASDAQ 100 managed to rise a bit yesterday. The price set its new all-time high and finished the day really close to the R1 resistance level. However, it is falling slowly today. If the buyers don’t generate any serious appetite pretty soon, the price could even drop to the S2 support level. But if they do, the price should return above the Pivot Point.
Dow Jones Industrial Average
The DJIA index showed mixed sentiment yesterday, and the volatility was also rather low. However, the price is falling deeply today. Just a moment ago, the bears has beaten the S2 support level, but now the price is coming back above it. If the buyers manage to continue generating the appetite, the price might rise above the Pivot Point. But if they fail, the price could even drop to the S3.
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