The U.S. stock market indexes currently lose between 0.8% and 1.2%, as investors fear Washington’s debt crisis. The S&P 500 index is down 0.8%, fluctuating in the area of 1,680, after breaking below the 50% retracement of the August-September rally at 1,678.67 (current daily low at 1,670.36). The broad stock market continues its two-week long downtrend, as the Dollar hits a new low against the Euro, breaking above the level of 1.36. However, the S&P 500 futures contract (CFD) rebounded off its support at around 1,665, marked by last week’s low. On the other hand, the resistance remains at 1,685-1,690, as the 15-minute chart shows:

The Nasdaq 100 futures contract (CFD) trades near its potential level of support at around 3,200. The resistance remains at 3,250. The technology stocks sector is relatively weaker today, as the Nasdaq Composite index currently loses 1.2%. The CFD extends its consolidation, still in the vicinity of its recent long-term uptrend highs, as the 15-minute chart shows:

Thank you,
Paul Rejczak