SPX, NASDAQ, and Dow Jones plummet following the US inflation rate's amazing growth. If this continues, the US stocks might continue their bearish tracks.

Yesterday all three American indices dropped significantly. Today they 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 at the S1 support level, a little below 3,940. Today it is going down even more. If the buyers don't generate some serious appetite soon, the price could even fall below 3,900 today. But if they do, the price might reach Pivot Point and 3,970.

S&P 500

 

NASDAQ 100

NASDAQ 100 also dropped deeply yesterday. The price finished the session below the S1 support level and 12,000. Today it is going down even more. If the buyers don't generate some serious appetite soon, the price could fall to 11,800. But if they do, the price might return above 12,000.

NASDAQ 100

 

Dow Jones Industrial Average

The DJIA index went down yesterday as well. The price finished the session slightly above 31,800. Today it is falling even more. If the buyers don't generate some serious appetite soon, the price could drop below the S1 support level and 31,500. But if they do, the price might reach Pivot Point and 32,000. However, it will still be way below EMA 200.

DJIA

 

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