Stock Markets Short-Term Uncertainty As Indexes Fluctuate Near …

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Stock Markets Short-Term Uncertainty As Indexes Fluctuate Near Record Highs

Stock Markets 2014Mar 10, 2014 – 02:33 PM GMT

Our intraday outlook is neutral, and our short-term outlook is neutral:

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 main U.S. stock market indexes were mixed between -0.5% and +0.2% on Friday, as investors reacted to the unemployment data release. The S&P 500 index has reached yet another new all-time high at 1,883.57, before closing virtually flat. The nearest important resistance is at 1,880-1,900, and the nearest support level is at around 1,860-1,865, marked by some of the recent local highs. There have been no confirmed uptrend reversal signals so far, however, we can see some uncertainty following recent rally:

Expectations before the opening of today’s session are virtually flat, with index futures mixed between -0.1% and +0.1%. The European stock market indexes have gained 0.1-0.8% so far. The S&P 500 futures contract (CFD) extends its short-term consolidation. The resistance is at around 1,885, and the nearest important support is at 1,865-1,870. For now, it looks like a flat correction within uptrend, as we can see on the 15-minute chart:

The technology Nasdaq 100 futures contract (CFD) has retraced some of its recent advance. It trades around the level of 3,700. The support is at around 3,685-2,690, and the nearest resistance is at 3,710, marked by the recent low. The next resistance remains at 3,720-3,740, as the 15-minute chart shows:

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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Stock Markets Short-Term Uncertainty As Indexes Fluctuate Near …

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