stock price trading

Stock Trading Alert: Mixed market, but indexes still near recent highs

October 18, 2013, 10:26 AM

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:

S&P500 futures contract - S&P 500 index chart - SPX

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

Did you enjoy the article? Share it with the others!

Gold Alerts

More

Dear Sunshine Profits,

gold and silver investors
menu subelement hover background