Prices slumped in the American session yesterday. Today too, not much has changed for the Asian session. What is the outlook like?

The bears took complete control over the market yesterday. All three American indices fell extremely during the American trading session and finished the day below their S2 support levels. Today, during the Asian trading session, we didn’t get any increased volatility, so still, there are no signals from the bulls that they are planning to counterattack. What can happen next? Let’s try to find out in analysis, S&P 500 first.

 

S&P 500

The bears were incredibly strong during the American trading session yesterday. The price fell from 3,490 to 3,410. Now, it is still below today’s Pivot Point, because the Asian trading session didn’t bring us any increased volatility. Europe also seems to be not willing to make a move and waits for a sign. So, the two scenarios are possible.

If the bulls decide to attack, the price should breach the Pivot Point and test the EMA 200. However, if the bears take control again, the price could fall to 3,400.

snp today

 

NASDAQ 100

NASDAQ 100 also completely fell in the afternoon - from 11,950 to 11,600. However, today the price is going up a bit and it is trying to attack the Pivot Point right now. If the bulls do it successfully, the price might test the EMA 200 or even reach the R1 resistance level today. However, if they fail, the price could go down below 11,600.

nasdaq100 today

 

Dow Jones Industrial Average

The DJIA index looks almost exactly the same as the S&P 500. It shockingly dropped in the afternoon, struggled to go up during the Asian trading session and it’s still significantly below the Pivot Point right now. So, the two scenarios are possible as well. If the bulls decide to attack, the price should breach the Pivot Point and test the EMA 200. However, if the bears take control again, the price could fall below 28000.

djia today

 

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