The U.S. stock market indexes have opened virtually flat today, with the technology stocks sector relatively stronger as Apple announced better-than-expected new iPhone sales data. Currently, the S&P500 index loses 0.4%, trading a little below the August 2 high of 1,709.67. The nearest important level of support is at around 1,700-1,170, so it is interesting to watch the battle between bulls and bears here. The S&P500 futures contract (CFD) continues its short-term downtrend, testing a potential support at 1,680-1,690, as we can see on the 15-minute chart:

On the other hand, the Nasdaq 100 Index futures (CFD) still trades near the recent high, above few week long upward trend line. The nearest level of support is at around 3,200, and the resistance is at 3,230-3,240, marked by the recent topping consolidation. The technology stocks sector is relatively strong, however a correction cannot be excluded at some point. A break below the trend line would be a negative signal, as the 15-minute chart shows:

Thank you,
Paul Rejczak