The major U.S. stock market indexes have opened mixed, as the technology stocks sector was relatively stronger due to yesterday’s Google Inc.’s quarterly earnings report release, and the broad market was virtually flat. The S&P 500 index currently gains 0.3%, making new all-time highs above the level of 1,730. The support remains at 1,700-1,710. The S&P 500 futures contract (CFD) is in a short-term uptrend, however, only slightly above yesterday’s levels. The nearest support is at around 1,730, as we can see on the 15-minute chart:

Our intraday outlook, as well as our short-term outlook remains neutral for now, as there may be some profit-taking pressure following recent rally:

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

Thank you,
Paul Rejczak