The U.S. stock market indexes have been mixed today, with the technology related stocks relatively weaker once again. Investors continue to worry about Washington’s debt crisis, however, the upcoming quarterly earnings season may improve the market sentiment somewhat. The S&P 500 index gained 0.1%, extending its short-term fluctuations, after yesterday’s sell-off. The support is at around 1,630-1,650, marked by the late August consolidation. The S&P 500 futures contract (CFD) fluctuates around the level of 1,650, as there is some uncertainty following recent quick move down. The short-term support is at around 1,640-1,645 and the nearest important resistance is at 1,655-1,665, marked by some of the recent lows, as we can see on the 15-minute chart:

The Nasdaq 100 futures contract (CFD) bounced off the level of around 3,110, however, there are no confirmed downtrend reversal signals. The market remains in a short-term sell-off mode, after breaking below the few-week long support at around 3,200. The nearest important resistance is at 3,150-3,160, marked by some of the September local lows, amongst others, as the 15-minute chart shows:

Thank you,
Paul Rejczak