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

The U.S. stock market indexes lost 0.6-1.3% yesterday, moving away from their long-term highs once again, as investors reacted to some geopolitical news concerning Russia-Ukraine conflict, among others. However, the S&P 500 index remains in a month-long consolidation, still above the support level of 1,840-1,850. The resistance is at 1,880-1,900. There is no clear short-term trend, as we can see on the daily chart:

Expectations before the opening of today’s session are slightly positive, with index futures currently up 0.2%. The main European stock market indexes have been mixed between -0.5% and +0.1% so far. Investors will now wait for some economic data releases: Initial Claims, Q4 GDP at 8:30 a.m., Pending Home Sales number at 10:00 a.m. The S&P 500 futures contract (CFD) continues to trade in a short-term consolidation. The nearest important support is at around 1,840, as the 15-minute chart shows:

The technology Nasdaq 100 futures contract (CFD) extended its recent move down, remaining relatively weaker, as it broke below the level of 3,600. We can see some increased volatility. There have been no confirmed short-term downtrend reversal signals so far:

Thank you.

Paul Rejczak
Stock Trading Strategist
Stock Trading Alerts
SunshineProfits.com

Stock market strategist, who has been known for quality of his technical and fundamental analysis since the late nineties. He is interested in forecasting market behavior based on both traditional and innovative methods of technical analysis. Paul has made his name by developing mechanical trading systems. Paul is the author of Sunshine Profits’ premium service for stock traders: Stock Trading Alerts.

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Disclaimer

All essays, research and information found above represent analyses and opinions of Paul Rejczak and Sunshine Profits' associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Paul Rejczak and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Rejczak is not a Registered Securities Advisor. By reading Paul Rejczak’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Paul Rejczak, Sunshine Profits' employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

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