• 5 hours Even Banks Can't Answer Aramco's Trillion Dollar Question
  • 22 hours Will Bezos Buy The Seattle Seahawks?
  • 1 day 6 Tech Trends Transforming The Travel Industry
  • 2 days Ousted Uber CEO Cashes Out $500 Million In Stock
  • 2 days Trump Prepares For Another Key Tariff Decision
  • 2 days The Free Money Bubble Is About To Burst
  • 3 days The Crushing Reality Of Poverty In America
  • 3 days Should You Buy Into The World’s Largest IPO?
  • 3 days The Infinite Possibilities Of Cosmic Energy
  • 4 days Analysts Link Walking To Economic Growth
  • 5 days Will Japan Turn Its Back On The Aramco IPO?
  • 6 days Global Debt Soars To $188 Trillion
  • 6 days The World's Largest Gold Miners Are Getting Creative
  • 7 days Twitter: The Saudi Spy Tool To Bring Down Dissidents
  • 7 days Broad Commodity Funds Don’t Give Enough Exposure To Gold
  • 8 days Here We Go Again: Another Giant Telecoms Mega-Merger
  • 8 days World's Largest Gold Miner Sees Profits Triple
  • 9 days Microsoft Japan Trials 4 Day Work Weeks, Productivity Soars By 40%
  • 9 days Hedge Funds Lose $4 Billion In Four Days As California Wildfires Rage On
  • 10 days New Viral App May Be A National Security Threat In Disguise
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Paul Rejczak

Paul Rejczak

Writer, Sunshine Profits

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…

Contact Author

  1. Home
  2. Markets
  3. Other

Stock Trading Alert: More Volatile Fluctuations As Investors Await Next Move By Fed

Stock Trading Alert originally published on September 10, 2015, 6:28 AM:


 

Briefly: In our opinion, no speculative positions are justified

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

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

The U.S. stock market indexes lost 1.2-1.5% on Wednesday, as investors took short-term profits following Tuesday's move up. The S&P 500 index continues to trade below the level of 2,000. The nearest important level of resistance is at 1,980-2,000, marked by local highs. On the other hand, support level remains at 1,900-1,920, among others. There have been no confirmed positive signals so far. For now, it looks like an upward correction following late August sell-off:

S&P500 Futures Daily Chart
Larger Image

Expectations before the opening of today's trading session are positive, with index futures currently up 0.9-1.0%. The main European stock market indexes have lost 0.4-0.6% so far. Investors will now wait or some economic data announcements: Initial Claims at 8:30 a.m., Wholesale Inventories at 10:00 a.m., Crude Inventories at 11:00 a.m. The S&P 500 futures contract (CFD) trades within an intraday consolidation, as it retraces some of yesterday's decline. The nearest important level of resistance is at 1,980-2,000, and support level is at 1,930, marked by local low, as the 15-minute chart shows:

S&P500 Futures 15-Minute Chart
Larger Image

The technology Nasdaq 100 futures contract (CFD) follows a similar path, as it fluctuates following its yesterday's decline. The nearest important level of resistance is at 4,300, and support level is at 4,230-4,250, as we can see on the 15-minute chart:

NASDAQ 100 Futures 15-Minute Chart
Larger Image

Concluding, the broad stock market remained within a short-term consolidation on Wednesday, as the S&P 500 index extended its fluctuations below the level of 2,000. There have been no confirmed positive signals so far. We prefer to be out of the market, avoiding low risk/reward ratio trades. We will let you know when we think it is safe to get back in the market.

Thank you.

 

Back to homepage

Leave a comment

Leave a comment