Stock Trading Alert: Further Uncertainty As Stocks Continue To …
Stock Trading Alert: Further Uncertainty As Stocks Continue To Fluctuate
By:
| Mon, Mar 31, 2014
Stock
Trading Alert originally published on Mar 31, 2014, 6:48 AM:
Our intraday outlook is neutral, and our short-term outlook remains 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 U.S. stock market indexes gained 0.2-0.5% on Friday, retracing some of
the recent move down as investors reacted to economic data announcements, hoping
for a positive, “window dressing” quarter-end. The S&P 500 index has managed
to stay within its month long consolidation, bouncing off the support at around
1,840-1,850. On the other hand, the resistance remains
at 1,880-1,900, as we can see on the daily chart:
Expectations before the opening of today’s session are positive, with index
futures currently up between 0.3% and 0.4%. However, the main European stock
market indexes have been mixed so far. Investors will now wait for the Chicago
PMI number release at 9:45 a.m. The S&P 500 futures contract (CFD) extends
its short-term consolidation, as it fluctuates along the level of 1,850. The
support is at around 1,830-1,840, and the resistance remains at 1,870-1,880.
There is no clear direction, as the 15-minute chart shows:
The technology Nasdaq 100 futures contract (CFD) continues to be relatively
weaker than broad market, as it fluctuates near its recent lows. The support
remains at around 3,650. For now, it looks like a flat correction within a
downtrend:
Thank you.
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Author: Paul Rejczak
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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Stock Trading Alert: Further Uncertainty As Stocks Continue To …
