The major U.S. stock market indexes are mixed in the second half of Monday’s trading, with the technology stocks sector relatively stronger, as the Nasdaq Composite gains 0.1% and the S&P500 is down 0.3%. The S&P500 futures contract (CFD) trades below the recent upward trend line which is a negative signal, as it confirms that the market is in a short-term downtrend. The nearest support is at 1,690-1,700, marked by the recent consolidation, as we can see on the 15-minute chart:

The Nasdaq100 futures contract (CFD) is in a correction too, however it remains over the analogous upward trend line. The resistance is at around 3,230-3,240 and the nearest level of support is at 3,200. In the short-term, we can see some increased volatility, as investors weigh Fed fears and good news from Apple regarding the new iPhone sales. Certainly, a break below the trend line would be negative for the Nasdaq100 futures contract, as the 15-minute chart shows:

Thank you,
Paul Rejczak