The main U.S. stock market indexes have gained between 0.6% and 0.7% today, as the market sentiment remained bullish after yesterday’s rally. Investors hope for a resolution of the debt crisis, as well as for positive quarterly earnings releases. The S&P 500 index gained 0.6%, breaking slightly above the level of 1,700 again. The nearest important resistance remains at 1,700-1,710. The S&P 500 futures contract trades much higher than two days ago, testing its resistance at around 1,700. The support is at 1,665, marked by some of the previous short-term lows, as we can see on the 15-minute chart:

The Nasdaq 100 futures contract (CFD) is relatively stronger than the broad stock market once again, as it is near its long-term highs. The resistance is at 3,230-3,250, marked by the September-October consolidation. On the other hand, the nearest support is at 3,200, as the 15-minute chart shows:

Thank you,
Paul Rejczak