The U.S. stock market indexes have opened slightly higher today, gaining between 0.1% and 0.2%. Investors hesitate to buy stocks after yesterday’s sell-off, fearing the debt crisis is far from being resolved. The S&P 500 index is virtually flat, near its support at around 1,630-1,650, marked by the late August consolidation. Still with no downtrend reversal signals. The S&P 500 futures contract (CFD) trades near its yesterday’s low, close to a potential support at around 1,645-1,650. On the other hand, the resistance remains at 1,665, as we can see on the 15-minute chart:

The Nasdaq 100 futures contract (CFD) trades near its new low, as the technology stocks remain relatively very weak. The resistance is at around 3,160, marked by the short-term local high. There are no downtrend reversal signals, as the price continues its move down. The tech stocks CFD is the lowest since the early September, as the 15-minute chart shows:

Thank you,
Paul Rejczak