Stock Trading Alert: Stocks Continue To Fluctuate As Investors …
Stock Trading Alert: Stocks Continue To Fluctuate As Investors React To Mixed News
By:
| Mon, Mar 24, 2014
Stock
Trading Alert originally published on Mar 24, 2014, 7:33 AM:
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 U.S. stock market indexes lost between 0.2% and 1.1% on Friday, as investors
took profits following higher open. However, the S&P 500 index has managed
to reach yet another new all-time high at 1,883.97, slightly exceeding its
march 7 high of 1,883.57. The resistance remains at around 1,880-1,900. On
the other hand, the support is at 1,840-1,850, marked by some of the previous
local lows. The market remains in a few-week long consolidation, following
February rally, as we can see on the daily chart:
Expectations before the opening of today’s session are slightly positive,
with index futures currently up 0.1-0.2%. The main European stock market indexes
have lost 0.5-0.7% so far. The S&P 500 futures contract (CFD) extends its
consolidation, moving along the level of 1,850. The resistance is at around
1,870-1,875, and the support remains
at 1,830-1,840. There is no clear short-term direction, as the 15-minute chart
shows:
The technology Nasdaq 100 futures contract (CFD) continues to fluctuate, remaining
relatively slightly weaker, as it trades below the level of 3,650. The support
is at 3,600-3,610, and the resistance is at the psychological 3,700, among
others:
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: Stocks Continue To Fluctuate As Investors …
