The main U.S. stock indexes have opened slightly lower today, as investors took some profits after the recent rally. The Empire Manufacturing report came in worse than expected, and quarterly earnings releases were mixed. The S&P 500 futures contract (CFD) retraced some its recent move up, as it currently fluctuates around the level of 1,700. The resistance remains at 1,705-1,710, as we can see on the 15-minute chart:
Intraday outlook: neutral
Short-term outlook: bullish
Medium-term outlook: neutral
Long-term outlook: bullish
Thank you,
Paul Rejczak
