The US Stock Index is at a crossroads. If the weakness continues, the price could fall to the support point. Here is the analysis.

Surprisingly, the American indices dropped heavily yesterday. During today's Asian trading session, they generated some mixed sentiment, so the price is still really low this morning. What can they do next? We will try to answer that question below. Also in the afternoon, some important data will be published, particularly initial jobless claims and new home sales in the US, which can affect the markets. So, let's start the analysis.

us stock indices today

 

S&P 500

After heavy falls yesterday, the S&P 500 managed to defend 3210 during the Asian trading session. However, it is still the low of the week, even on Monday the price drops stopped a little higher. For now, if the buyers are able to generate enough appetite, the price might test the Pivot Point. If they are not, the price can fall even lower and test 3200.

snp analysis today

 

NASDAQ 100

NASDAQ 100 is significantly stronger this week. Of course, it also dropped heavily yesterday, but it managed to defend 10715 during today's Asian trading session. On Monday it fell to 10660, so it's not the new low of the week. If the bulls are able to generate sufficient demand right now, the price might attack the Pivot Point. However, if they are not, the price could go down to the S1 support level and establish the new weekly low.

nasdaq 100 today

 

Dow Jones Industrial Average

The DJIA index still looks similar to the S&P 500. It managed to defend 26515 during the Asian trading session, but it's still the new low of the week. For now, if the buyers are able to generate enough appetite, the price might test the Pivot Point. If they are not, the price can fall even lower and test the area below 26500.

djia today

 

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