The U.S. stock market indexes currently gain 0.1% as investors hesitate following yesterday’s retreat from new intraday all-time highs. The S&P 500 index trades below the level of 1,800, and the DJIA is slightly below the psychological level of 16,000. The S&P 500 futures contract (CFD) extends its recent consolidation along the level of 1,790. The nearest resistance is at 1,800, and the support is at 1,780-1,785, as we can see on the 15-minute chart:
Our intraday outlook remains bearish, and our short-term outlook is bearish:
Intraday outlook: bearish
Short-term outlook: bearish
Medium-term outlook: neutral
Long-term outlook: bullish
Thank you,
Paul Rejczak