NASDAQ trades mixed while S&P 500 and Dow fall below Pivot following higher-than-expected US inflation reports. The consumer price index jumps 7% over the past year, the highest level since 1982.
Yesterday the American indices managed to rise a bit. Today, all three of them are slightly going down, though. From the data front, the PPI in December will be published. Anyway, let's move on to the analysis, S&P 500 first:
The S&P 500 managed to slightly rise yesterday. The price finished the session a little below 4,720. However, it is going down today. If the buyers don't generate some serious appetite soon, the price could drop below 4,700, the EMA 200, and the S1 support level. But if they do, the price might rise above 4,730 and even reach the R1 resistance level.
NASDAQ 100 also rose a bit yesterday. The price finished the session slightly below 15,900. Today it is showing mixed sentiment. Right now the bulls are attacking the Pivot Point. If they do it successfully, the price might go up above 16,000 and reach the R1 resistance level. But if they fail, the price could drop below the EMA 200 and 15,800 and reach the S1 support level.
Dow Jones Industrial Average
The DJIA index managed to slightly rise yesterday as well. The price finished the session a little below 36,200. However, it is going down today. Right now the bulls are trying to stay above the EMA 200. If they do it successfully, the price might bounce and reach the R1 resistance level today. But if they fail, the price could drop below the S1 support level and 36,000.
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