The U.S. stock market indexes have opened slightly higher today, with the technology sector stocks relatively stronger once again. However, currently, the S&P500 index loses 0.3% and fluctuates around the psychological support level at 1,700, as investors react to worse-than-expected Consumer Confidence report announcement. The S&P 500 futures contract (CFD) continues to trade near the support of 1,690, still with no confirmed short-term downtrend reversal signals ; the resistance remains at 1,700, as the 15-minute chart shows:

In case of the Nasdaq 100 futures contract (CFD), we are still above its short-term upward trend-line. The nearest support is at around 3,200 and the resistance is at 3,230-3,240, marked by last week’s topping consolidation. However, a correction cannot be excluded here, as the selling pressure seems to be increasing. A break below the upward trend line would be a negative signal, as we can see on the 15-minute chart:

Thank you,
Paul Rejczak

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