stock price trading

Stock Trading Alert: Stocks rebound as Fed begins tapering

December 18, 2013, 2:40 PM

The main U.S. stock market indexes currently gain between 0.2% and 1.1%, as investors react to the FOMC decision announcement. The S&P 500 index is back near the level of 1,800. The resistance is at 1,800, and the next resistance is at 1,810-1,815, marked by the November 29 all-time high of 1,813.55. The S&P 500 futures contract (CFD) trades higher, with some increased volatility, as we can see on the 15-minute chart:

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

Our intraday outlook remains neutral, and our short-term outlook is neutral:

Intraday (next 24 hours) outlook: neutral
Short-term (next 1-2 weeks) outlook: neutral
Medium-term (next 1-3 months) outlook: neutral
Long-term outlook (next year): bullish

Thank you,
Paul Rejczak

Did you enjoy the article? Share it with the others!

Gold Alerts

More

Dear Sunshine Profits,

gold and silver investors
menu subelement hover background