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29 Dec 2014
Broad stock market at new highs, will uptrend continue? – SunshineProfits
FXStreet (Barcelona) - Paul Rejczak of Sunshine Profits comments on the recent stock market rally, noting that bullish sentiments sent the US indices up between 0.1% - 0.7% on Friday.
Key Quotes
“The U.S. stock market indexes gained between 0.1% and 0.7% on Friday, during a shortened trading session as investors’ sentiment remained bullish. The S&P 500 index has reached yet another new all-time high at the level of 2,092.70. The nearest important level of resistance is at around 2,090-2,100. On the other hand, support level is at 2,080, marked by previous local high, among others. There have been no confirmed negative signals so far, however, we can see some overbought conditions accompanied by negative technical divergences.”
“Expectations before the opening of today’s trading session are slightly negative, with index futures currently down 0.1-0.2%.”
“The main European stock market indexes have been mixed so far. The S&P 500 futures contract (CFD) retraces some of its recent move up, as it trades along the level of 2,080. The nearest important level of resistance is at around 2,085-2,090, marked by last week’s highs. On the other hand, support level remains at 2,060-2,070.”
Key Quotes
“The U.S. stock market indexes gained between 0.1% and 0.7% on Friday, during a shortened trading session as investors’ sentiment remained bullish. The S&P 500 index has reached yet another new all-time high at the level of 2,092.70. The nearest important level of resistance is at around 2,090-2,100. On the other hand, support level is at 2,080, marked by previous local high, among others. There have been no confirmed negative signals so far, however, we can see some overbought conditions accompanied by negative technical divergences.”
“Expectations before the opening of today’s trading session are slightly negative, with index futures currently down 0.1-0.2%.”
“The main European stock market indexes have been mixed so far. The S&P 500 futures contract (CFD) retraces some of its recent move up, as it trades along the level of 2,080. The nearest important level of resistance is at around 2,085-2,090, marked by last week’s highs. On the other hand, support level remains at 2,060-2,070.”