The major U.S. stock market indexes are currently mixed, as investors hesitate after yesterday’s move up. The S&P 500 index reached yet another new intraday all-time high at 1,785.74. However, the S&P 500 futures contract (CFD) is in an intraday consolidation, as it fluctuates below the resistance of 1,785. On the other hand, the nearest important support is at 1,770, as we can see on the 15-minute chart:

Despite being wrong recently, 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