The U.S. stock market indexes gain between 0.7% and 0.8%, as investors react to better-than-expected jobs report for the month of November. The S&P 500 index trades near the level of 1,800. The nearest important resistance is at 1,810-1,815, marked by last Friday’s all-time high of 1,813.55. On the other hand, support remains at 1,770-1,775. The S&P 500 futures contract (CFD) retraced most of its recent decline, as it is near the level of 1,800. However, 1,800-1,810 area seems to be rather strong resistance now, as we can see on the 15-minute chart:

Our intraday outlook remains bearish, and our short-term outlook is bearish:

Intraday (next 24 hours) outlook: bearish
Short-term (next 1-2 weeks) outlook: bearish
Medium-term (next 1-3 months) outlook: neutral
Long-term outlook (next year): bullish

Thank you,
Paul Rejczak