The U.S. stock market indexes are currently mixed between -0.1% and +0.1%, as investors hesitate following recent advance. There may be some short-term profit taking. However, the S&P 500 index achieved yet another new intraday all-time high at 1,844.89. The support is at 1,829.75-1,834.96, marked by yesterday’s daily gap up, and the next support is at around 1,810-1,815. The S&P 500 futures contract (CFD) trades below potential resistance of 1,835-1,840, as we can see on the 15-minute chart:
The technology sector Nasdaq 100 futures contract (CFD) retraced some of its recent move up. Potential resistance is at the psychological 3,600. The nearest support is at around 3,560, as the 15-minute chart shows:
Our intraday outlook is neutral, and our short-term outlook is bullish:
Intraday (next 24 hours) outlook: neutral
Short-term (next 1-2 weeks) outlook: bullish
Medium-term (next 1-3 months) outlook: neutral
Long-term outlook (next year): bullish
Thank you,
Paul Rejczak