stock price trading

Stock Trading Alert: Indexes lose 0.5-0.6%, extending recent consolidation

October 3, 2013, 10:05 AM

The U.S. stock market indexes have opened down 0.1-0.2%, as investors continue to hesitate ahead of tomorrow’s unemployment data release. The market sentiment worsened slightly after worse-than-expected ISM Services report announcement for the month of September. The S&P 500 index currently loses 0.5%, fluctuating around the level of 1,690. The nearest resistance is at 1,700-1710. The S&P 500 futures contract (CFD) extends its short-term consolidation. The nearest resistance is at around 1,685-1,690, and the support remains at 1,665, marked by the previous consolidation, as we can see on the 15-minute chart:

S&P500 futures contract - S&P 500 index chart - SPX, Large Cap Index

The Nasdaq 100 futures contract (CFD) is still near its recent high, as the technology stocks sector remains relatively strong. The resistance is at 3,250, and the nearest support is at 3,230-3,240, marked by the previous resistance. The main level of support is currently at 3,200, marked by some of the recent local lows. Still with no confirmed uptrend reversal signals, as the 15-minute chart shows:

Nasdaq100 futures contract - Nasdaq 100 index chart - NDX

Thank you,
Paul Rejczak

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