Stock Trading Alert: Sentiment Worsens As Indexes Move Down …
Stock Trading Alert: Sentiment Worsens As Indexes Move Down Within Recent Trading Range
By:
| Thu, Mar 27, 2014
Stock
Trading Alert originally published on Mar 27, 2014, 7:39 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 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.
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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‘
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Trading Alerts.
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Stock Trading Alert: Sentiment Worsens As Indexes Move Down …
