stock price trading

Stock Trading Alert: Stocks continue to fluctuate

November 12, 2013, 10:48 AM

The U.S. stock market indexes are currently mixed, between -0.1% and +0.1% vs. their yesterday’s closing prices. The S&P 500 futures contract (CFD) extends its short-term consolidation, just below the nearest important resistance of 1,770, as we can see on the 15-minute chart:

S&P500 futures contract - S&P 500 index chart - SPX

The technology sector Nasdaq 100 futures contract (CFD) trades just below its resistance of 1,365, marked by some of the recent lows. The support remains at around 3,345-3,350. For now, it only looks like an upward correction within a short-term downtrend, as the 16-minute chart shows:

Nasdaq100 futures contract - Nasdaq 100 index chart - NDX

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

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