Risk aversion that haunts US indices remains strong today. If buyers don't generate enough support soon, the price will continue to decline.

Yesterday the American indices dropped heavily. Today all three of them are going down 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 dropped heavily yesterday. The price finished the session a little above the S2 support level, at 3920. Today it is going down even more below Pivot Point. The price is already below 3890. If the buyers don't generate some serious appetite soon, the price could fall below 3860 today. But if they do, the price might return above 3910.

spx

 

NASDAQ 100

NASDAQ 100 also dropped heavily yesterday. The price finished the session slightly below the S2 support level and 11,450. Today it is going down even more. The price is already below 11,350. If the buyers don't generate some serious appetite soon, the price could fall below 11,300. But if they do, the price might return above 11,400.

nasdaq

 

Dow Jones Industrial Average

The DJIA index dropped heavily yesterday as well. The price finished the session slightly below the S2 support level, a little above 33400. Today it is going down even more. The price is already below 33,200. If the buyers don't generate some serious appetite soon, the price could even fall below 33,000. But if they do, the price might return above 33,300.

djia

 

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