The main U.S. stock market indexes have opened down 0.5-0.6%, following worse-than-expected ADP Employment Change report release. The S&P 500 index currently loses 0.6%, moving away from the level of 1,700 once again. The support is at around 1,680, marked by the 50% retracement of the August-September rally at 1,678.67, amongst others. The resistance remains at 1,700. The S&P 500 futures contract (CFD) retreated from yesterday’s high and fluctuates in a rather tight range. The support is at 1,665, marked by the previous consolidation. On the other hand, the resistance remains at 1,685-1,690, as we can see on the 15-minute chart:

The technology Nasdaq 100 index futures contract (CFD) trades near its support at around 3,230-3,240, still relatively stronger than the overall market. The resistance level is at 3,250, marked by yesterday’s high. For now, it looks like a correction of the recent move up, as the CFD remains over last week’s consolidation, as the 15-minute chart shows:

Thank you,
Paul Rejczak