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:

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%.

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