The U.S. stock market indexes currently gain between 0.1% and 0.7%, with the technology stocks sector being the strongest performer, as investors react to better-than-expected quarterly earnings reports from companies like Microsoft, Amazon, amongst others. The S&P 500 index is up 0.1%, trading near the level of 1,750. The resistance is at 1,750-1,760, marked by Tuesday’s all-time high of 1,759.33. The S&P 500 futures contract (CFD) extends its short-term consolidation. Still with no clear direction, 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