The U.S. stock market indexes are currently mixed between 0.0% and -0.5%, as investors remain uncertain following yesterday’s move down. The S&P 500 index trades near the support of 1,770-1,775, two percent below late November all-time high of 1,813.55. The S&P 500 futures contract (CFD) has tanked below the support at 1,775-1,780 for a while, and is now trading in an earlier intraday range, with no clear direction. The nearest resistance is at 1,773, 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