The U.S. stock market indexes have closed down between 0.1% and 0.5% today, as investors feared the debt-ceiling crisis, amongst others. However, volatility remains relatively low and the tech stocks continue to fluctuate near their recent high. The S&P 500 index lost 0.4%, violating the support at 1,688.73-1,691.70, marked by the September 16 daily gap up. The S&P 500 futures contract (CFD) is in a gradual short-term downtrend. The nearest important support is at around 1,680, marked by the previous consolidation. On the other hand, the resistance remains at 1,700, as we can see on the 15-minute chart:

The Nasdaq 100 futures contract (CFD) is relatively stronger, fluctuating near last week’s high. The resistance remains at 3,230-3,240, and the support is at 3,200. The tech’s CFD broke below the month-long upward trend line, however it moved sideways and crossed that ascending line without any real selling pressure, as the 15-minute chart shows:

Thank you,
Paul Rejczak

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