The U.S. stock market indexes currently lose between 0.2% and 1.0%, as investors react to better-than-expected GDP advance number announcement, which may negatively influence the Fed stimulus program. However, earlier in the session, the blue-chips DJIA index reached a new all-time high at 15,797.68. The S&P 500 index is currently down 0.4%, below the resistance of 1,770-1,775. The S&P 500 futures contract (CFD) reached a new high at around 1,775, then fell sharply into the recent consolidation. The support remains at around 1,750, as we can see on the 15-minute chart:

Our intraday outlook is bearish, and our short-term outlook remains neutral, as there may be some further uncertainty following recent rally:

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

Thank you,
Paul Rejczak