The main U.S. stock market indexes lost 0.3-0.5% today, as investors feared the Fed will taper its bond purchases program anyway. The S&P500 index closed at 1,701.80, just a little above the psychological support level of 1,700. The support remains at around 1,700-1,710 and the resistance is at 1,729.86, marked by last week’s all-time high. The S&P500 futures contract (CFD) trades below its recent upward trend line, which is a negative signal. It is in a potential support zone at 1,690-1,700, marked by the recent consolidation, as we can see on the 15-minute chart:

The technology sector Nasdaq 100 futures contract (CFD) remains over its analogous upward trend line, however a deeper correction cannot be excluded. The resistance is at 3,230-3,240, marked by the recent topping consolidation, and the level of support is at around 3,200. A break below the upward trend line would certainly be a negative signal for this market, as the 15-minute chart shows:

Thank you,
Paul Rejczak