The U.S. stock market indexes are currently up between 1.5% and 1.7%, as investors welcome a temporary resolution for the debt crisis: a new debt-ceiling deadline. The S&P 500 index is up 1.6%, trading slightly above the level of 1,680, retracing its recent decline, which is a positive sign. The S&P 500 futures contract (CFD) is back above the level of 1,665, marked by the September-October short-term consolidation’s lower limit. The next resistance is at 1,685-1,690, marked by some of the previous short-term highs, as we can see on the 15-minute chart:

The Nasdaq 100 futures contract (CFD) is near the level of 3,200 again, testing the resistance at 3,180-3,200. On the other hand, the support remains at around 3,150-3,160, marked by the recent consolidation. The technology stocks sector is relatively stronger once again, still close to the long-term uptrend’s high. However, the recent consolidation at around 3,200-3,250 seems to be quite strong resistance, as the 15-minute chart shows:

Thank you,
Paul Rejczak