Yesterday was very tough for the American indices. Dow Jones Industrial Average and NASDAQ 100 finished the session on their S3 support levels and the S&P 500 closed the day slightly above the S4. Furthermore, all three of them are showing mixed sentiment today. From the data front the initial jobless claims and new home sales will be published in the US. Anyway, let’s move on to the analysis, S&P 500 first:
S&P 500
That was a really tragic session for the S&P 500 yesterday. The price finished it a little above the S4 support level. Today, it is showing mixed sentiment. If the buyers take control over the market today, the price might rise above the Pivot Point. But if the bears appear to be stronger, the price could drop below 3700.
NASDAQ 100
NASDAQ 100 also dropped heavily yesterday. The price finished the session slightly below the S3 support level. Today it is showing mixed sentiment. If the buyers take control over the market today, the price might rise above the Pivot Point. But if the bears appear to be stronger, the price could drop below 12900.
Dow Jones Industrial Average
The DJIA index dropped heavily yesterday as well. The price finished the session on the S3 support level. Today it is showing mixed sentiment. If the buyers take control over the market today, the price might rise above the Pivot Point. But if the bears appear to be stronger, the price could cross and hold below 30000.
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