The U.S. stock market indexes currently gain between 1,1% and 1.3%, as investors hope for a positive debt-ceiling crisis resolution. Investors also await the Fed’s Beige Book report announcement at 2:00 p.m. The S&P 500 is above its resistance of 1,700-1,710, which is a positive signal. The S&P 500 futures contract (CFD) is in a short-term uptrend, as we can see on the 15–minute chart:

The Nasdaq 100 futures contract (CFD) continues its long-term uptrend, making new highs at 3,270-3,280. There are no confirmed uptrend reversal signals, however, some profit taking cannot be excluded, as investors may sell the news about crisis resolution.

Our intraday outlook remains neutral for now, as there may be some uncertainty later in the day concerning budget crisis talks:
Intraday outlook: neutral
Short-term outlook: neutral
Medium-term outlook: neutral
Long-term outlook: bullish

Thank you,
Paul Rejczak