The main U.S. stock market indexes continue their fluctuations around Friday’s closing prices, as investors seem to be taking some profits off the table, following recent rally. The S&P 500 futures contract (CFD) retraced some of its earlier move up, touching the level of 1,800. The nearest important support is at 1,790-1,800, and the resistance is at around 1,810, as we can see on the 15-minute chart:

Our intraday outlook remains bearish, and our short-term outlook is bearish:

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

Thank you,
Paul Rejczak