NASDAQ, S&P500, and Dow fall below EMA 200. Oil prices surge to $110 per barrel although the US and other countries decided to release 60 million barrels of crude from stockpiles.

Yesterday the American indices went down. Today, they are falling even more. From the data front, the ADP nonfarm employment change in February will be published. Anyway, let's move on to the analysis, S&P 500 first:

 

S&P 500

The S&P 500 went down significantly yesterday. The price finished the session a little below the EMA 200, slightly above 4,300. Today it is falling even more. The price is already below 4,300. If the buyers don't generate some serious appetite soon, the price could drop below the S1 support level today. But if they do, the price might rise above the Pivot Point and reach 4,350.

Oil Prices Continue Rising, Stocks on the Dip

 

NASDAQ 100

NASDAQ 100 also went down yesterday. The price finished the session slightly below the Pivot Point, a little above 14,010. Today it is falling even more. The price is already below 14,000. If the buyers don't generate some serious appetite soon, the price could drop below the S1 support level and 13,800 today. But if they do, the price might rise above the Pivot Point and 14,100.

nasdaq 100 today

 

Dow Jones Industrial Average

The DJIA index was the weakest one yesterday. The price dropped heavily and finished the session significantly below the S1 support level, at 33,300. Today it is falling even more. If the buyers don't generate some serious appetite soon, the price could go down below 33,000 and reach today's S1. But if they do, the price might rise above the Pivot Point and the EMA 200.

djia today

 

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