The American indices performed differently yesterday. The S&P 500 and Dow Jones Industrial Average showed mixed sentiment and the NASDAQ 100 significantly went up and set its new all-time high. However, all three of them are falling a bit today. From the data front, all eyes will be focused on the FOMC meeting and the Fed interest rate decision, so the volatility might be greatly increased in the evening. Anyway, let’s move on to the analysis:
The S&P 500 showed mixed sentiment yesterday. First the price dropped below the EMA 200 and the Pivot Point, but then it managed to rise a bit and finished the day close to 3850. However, it is falling today. Right now the bulls are defending the EMA 200. If they do it successfully and bounce, the price might even reach the R1 resistance level today. But if they fail, the price could even drop to the S2 support level today.
NASDAQ 100 went up significantly yesterday and set its new all-time high. However, it is falling slowly today. If the buyers don’t generate some serious demand before the price drop below the Pivot Point, it could even test the EMA 200 today. But if they do, the price should rise above 13600 today.
Dow Jones Industrial Average
The DJIA index also showed mixed sentiment yesterday. First the price dropped below the Pivot Point, then it managed to rise above it and even crossed the EMA 200. However, after that it fell once more. Today the price is going down as well. If the buyers don’t generate some serious appetite pretty soon, the price could even drop to the S2 support level. But if they do, the price might reach the R1 resistance level today.