The U.S. stock market indexes currently gain between 0.5% and 1.0%, rebounding after yesterday’s decline. Investors react to decisively better-than-expected Nonfarm Payrolls release. The S&P 500 index is up 0.8%, back above the level of 1,750. The resistance is at around 1,770-1,775. The S&P 500 futures contract (CFD) bounced off the support at around 1,735. The nearest resistance is at 1,760-1,765, marked by the recent consolidation, as we can see on the 15-minute chart:

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

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

Thank you,
Paul Rejczak