The U.S. stock market indexes are currently mixed, quite near their Friday’s closing prices with the exception of the technology stocks sector, as the Nasdaq Composite index gains 0.3%. The S&P 500 index trades close to its new all-time high of 1,747.79. The nearest important resistance is at the psychological 1,750. The S&P 500 futures contract (CFD) extends its short-term consolidation. The nearest support is at around 1,730-1,735. Still with no confirmed uptrend reversal signals, however, at some point, investors may begin taking profits, as we can see on the 15-minute chart:

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

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

Thank you,
Paul Rejczak