SP500 gained some ground as traders reacted to the better-than-expected Durable Goods Orders report. The report showed that Durable Goods Orders declined by 0.8% month-over-month in September, compared to analyst consensus of -1%. Durable Goods Orders Ex Transp increased by 0.4%, while analysts expected that they would decline by 0.1%. Today, traders also focused on the final reading of Michigan Consumer Sentiment report, which has exceeded analyst expectations. Tech stocks were among the biggest gainers in the SP500 index today, while utilities and financial stocks have found themselves under pressure.

If SP500 climbs above the 50 MA at 5845, it will move towards the nearest resistance level at 5870 - 5880. On the support side, a successful test of the support at 5800 - 5810 will open the way to the test of the next support level, which is located in the 5735 - 5750 range.