Indices Fall Slowly On Powell's Inflation Remarks

Dow, NASDAQ, and S&P 500 are falling slowly today as Powell's latest remarks on inflation left investors disappointed.

Yesterday, the American indices dropped significantly once more. S&P 500 and NASDAQ 100 finished the session below their S1 support levels and the Dow Jones Industrial Average went down even more and ended the day below the S2. Today, all three of them are still falling, but slowly. From the data front, all eyes will be on the nonfarm payrolls February release, so the volatility in the afternoon should be very high. Anyway, let's move on to the analysis, S&P 500 first:

S&P 500

The S&P 500 dropped significantly yesterday. The price finished the session below the S1 support level. Today, it is still slightly going down. If the buyers don't generate some serious appetite pretty soon, the price could fall below 3,720. But if they do, the price might rise above the Pivot Point.

NASDAQ 100

NASDAQ 100 also dropped yesterday. The price finished the session below the S1 support level and 12,500. Today, it is still going down, but only a little. If the buyers don't generate some serious appetite pretty soon, the price could fall below 12,300 today. But if they do, the price might rise above the Pivot Point.

Dow Jones Industrial Average

The DJIA index was the weakest one yesterday. First the price managed to rise above the Pivot Point and the EMA 200. Then, in the afternoon, it dropped heavily. The price finished the day below the S2 support level. Today, it is still slightly going down. If the buyers don't generate some serious appetite pretty soon, the price could fall below 30,500 today. But if they do, the price might rise above the Pivot Point.

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