The U.S. stock market indexes are currently mixed, with the S&P 500 index up 0.1%, and Nasdaq Composite index down 0.2%. Investors hesitate to take bets ahead of further earnings releases, Wednesday’s FOMC Rate Decision, amongst others. The market extends its short-term consolidation. However, the S&P 500 index managed to reach a new all-time high at 1,762.66. The S&P 500 futures contract (CFD) fluctuates below the resistance of 1,755-1,760. For now, it only looks like a short-term downward correction, as we can see on the 15-minute chart:

The Nasdaq 100 futures contract (CFD) is in a short-term consolidation, following last week’s rally. The resistance remains at around 3,390-3,400. The nearest important support is at 3,365, as the market trades near its upward trend line:

Our intraday outlook is bearish, and our short-term outlook remains neutral, as there may be some further uncertainty following recent rally:
Intraday outlook: bearish
Short-term outlook: neutral
Medium-term outlook: neutral
Long-term outlook: bullish

Thank you,
Paul Rejczak