The U.S. stock market indexes have closed down between 0.4% and 0.8% today, extending their short-term downtrend, as investors feared Washington’s debt-ceiling crisis’ possible negative outcomes. On the other hand , the Chicago PMI index announcement was better than expected, helping the major indexes to rebound from their earlier lows. The S&P 500 futures contract (CFD) continues its short-term downtrend, as it trades below last-week’s low at around 1,680. The nearest important support is at around 1,665, marked by the previous consolidation. Still with no confirmed downtrend reversal signals, as we can see on the 15-minute chart:

The Nasdaq 100 futures contract (CFD) remains in the consolidation, however it temporarily managed to break below the consolidation’s lower limit at around 3,200. The resistance remains at 3,230-3,240, marked by some of the recent highs. Still with no clear trend, as tech stocks’ investors continue to hesitate. The tech stocks sector remains relatively strong, still near its long-term uptrend’s high, as the 15-minute chart shows:

Thank you,
Paul Rejczak