The U.S. stock market indexes are down between 0.1% and 0.3% as investors take some profits off the table, following recent advance. The S&P 500 index remains near its all-time highs, well above the nearest important support at 1,829.75-1,834.96, marked by yesterday’s daily gap up. The S&P 500 futures contract (CFD) trades in a relatively narrow range, as it extends short-term consolidation:

Our intraday outlook is neutral, and our short-term outlook is bullish:

Intraday (next 24 hours) outlook: neutral
Short-term (next 1-2 weeks) outlook: bullish
Medium-term (next 1-3 months) outlook: neutral
Long-term outlook (next year): bullish

Thank you,
Paul Rejczak