To analyze
- Dow Jones – WKN: 969420 – ISIN: US2605661048 – Price: $33,202.22 (NYSE)
- S&P 500 – WKN: A0AET0 – ISIN: US78378X1072 – Kurs: 3,895.75 Pkt (S&P)
- Nasdaq-100 – WKN: A0AE1X – ISIN: US6311011026 – Price: 11,345.22 (Nasdaq)
Dow Jones Index
Yesterday US indices fell very sharply. Hardly any resistance from the cops. The targeted counter-move after a weak opening did not materialize. Due to this violent development, the huge support at 33,500 points was broken.
Today, with the triple expiry day, US indices will most likely start trading very weak again. The 33,000 mark, which cushioned the sell-off yesterday, is now well below the pre-market price. The EMA200 at around 32,650 points is probably the bears’ lower high target today.
In the intraday, the bulls are likely to show much more resistance today than yesterday.
S&P500 index
The S&P500 showed little resistance in yesterday’s trading. The weak open was not bought as expected and the EMA50 on the daily chart at 3,920 offered no resistance. The index closed the day just below the 3,900 mark.
Even in the witches’ sabbath the policemen don’t rest. The index fell more than 200 points in just three trading days. However, the 3860 area could now represent a reversal zone for the bulls. However, if the sell-off continues there, a test of the 3,800 point mark would be imminent. A reversal today would be the perfect fit for the start of a possible year-end rally.
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Nasdaq100 index
The Nasdaq100 index opened just below the EMA50 on the daily chart yesterday. The bulls therefore did not attempt to recapture this support line immediately. Instead, the huge support zone at 11,500 points has been broken. The next possible reversal zone is around 11,000.
Another setback for the bulls is likely today. However, it is debatable whether the index will jump straight to 11,050 points, even if there is clear selling pressure ahead of the market. However, the index is able to recover from the lows better than, for example, the Dow Jones index in the pre-market session. So today it would be extremely important that the index can cut its losses immediately after the start of trading, so that at least a recovery towards 11,500 points can take place.
