stock price trading

Stock Trading Alert: Mixed situation as investors bet on uptrend extension

October 17, 2013, 3:23 PM

The main U.S. stock market indexes are currently mixed between -0.2% and +0.5%, as investors hesitate to take further action following yesterday’s budget crisis deal. However, the stock market remains near its long-term uptrend highs. The S&P 500 futures contract (CFD) trades slightly below its all-time high at around 1,725. Still with no confirmed uptrend reversal signals, as we can see on the 15-minute chart:

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

Analogously, the Nasdaq 100 futures contract (CFD) continues the short-term uptrend. The nearest important resistance is at around 3,270-3,280. The technology stocks sector is still relatively stronger, as the Nasdaq Composite index currently gains 0.4%.

Nasdaq100 futures contract - Nasdaq 100 index chart - NDX

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