Market Focuses on FOMC Decision, US Stocks Decline

NASDAQ, S&P 500, and Dow drop below EMA 200 ahead of FOMC's interest rate decision. The Fed is projected to slow its rate hike to 50bps on Wednesday.

On Friday the American index went down. Today all three of them are falling even more. What can they do next? Let's try to answer that question in an analysis, S&P 500 first:

S&P 500

The S&P 500 went down on Friday. The price finished the last session of the week significantly below the Pivot Point, slightly below 3,940. Today it is falling even more. If the buyers don't generate some serious appetite soon, the price could drop below 3,920 and reach the S1 support level. But if they do, the price might rise above 3,940.

NASDAQ 100

NASDAQ 100 also went down on Friday. The price finished the last session of the week slightly below the Pivot Point, at 11,570. Today it is falling even more. If the buyers don't generate some serious appetite soon, the price could drop below 11,500 and reach the S1 support level. But if they do, the price might reach 11,600 and the Pivot Point.

Dow Jones Industrial Average

The DJIA index was the weakest one on Friday. The price dropped significantly and finished the last session of the week below the S1 support level, at 33,500. Today it is falling even more. If the buyers don't generate some serious appetite soon, the price could drop below 33,400 and reach the S1 support level. But if they do, the price might rise above 33,500.

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