The U.S. stock market indexes continue to fluctuate, losing 0.1-0.3%. right now, trading near the lows of the recent short-term downtrend, as investors fear debt-ceiling crisis, Fed tapering talk. The S&P 500 index is slightly below the psychological support level of 1,700, as it loses 0.1%, extending is short-term consolidation. The S&P 500 futures contract (CFD) is the lowest since half of the month, testing previous consolidation at around 1,680-1,690. There are no confirmed trend reversal signals, however the volatility is relatively low, as we can see on the 15-minute chart:

The Nasdaq 100 futures contract violates its recent upward trend line, as it continues to fluctuate near the level of support at around 3,200. The resistance remains at 3,230-3,240, marked by last week’s topping consolidation. For now, it only looks like a running flat correction; there are no confirmed uptrend reversal signals, as the 15-minute chart shows:

Thank you,
Paul Rejczak

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