• 273 days Could Crypto Overtake Traditional Investment?
  • 278 days Americans Still Quitting Jobs At Record Pace
  • 280 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 283 days Is The Dollar Too Strong?
  • 283 days Big Tech Disappoints Investors on Earnings Calls
  • 284 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 286 days China Is Quietly Trying To Distance Itself From Russia
  • 286 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 290 days Crypto Investors Won Big In 2021
  • 290 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 291 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 293 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 294 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 297 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 298 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 298 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 300 days Are NFTs About To Take Over Gaming?
  • 301 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 304 days What’s Causing Inflation In The United States?
  • 305 days Intel Joins Russian Exodus as Chip Shortage Digs In
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