The U.S. stock market indexes have opened down between 0.5% and 0.7%. Currently, the market extends its short-term uptrend, as investors continue to react on yesterday’s budget crisis deal. The S&P 500 index gains 0.2%, moving closer to the September 19 all-time high of 1,729.86. The S&P 500 futures contract (CFD) reached a new short-term high, however, the trend is relatively slow, as investors take some profits after recent rally. The nearest important support remains at around 1,705-1,710. Still with no clear uptrend reversal signals, as we can see on the 15-minute chart:

Our intraday outlook, as well as our short-term outlook remains neutral for now, as there may be some profit-taking pressure following recent rally:

Intraday outlook: neutral
Short-term outlook: neutral
Medium-term outlook: neutral
Long-term outlook: bullish

Thank you,
Paul Rejczak