The U.S. stock market indexes are currently mixed between -0.2% and +0.1%, as investors hesitate following recent volatile trading action. The S&P 500 index is slightly below the October 30 all-time high of 1,775.22. The resistance remains at around 1,770-1,775. On the other hand, the support is at 1,745-1,750, marked by last week’s local lows. The S&P 500 futures contract (CFD) is just below the resistance of 1,770-1,775. For now, the market extends its two-week long 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