FTSE 100, DAX, S&P 500 all rally for healthy gains
The gains in equity markets continue, as investors put a difficult May behind them, with the FTSE 100 and S&P 500 in particularly strong form.
FTSE 100 enjoys a good week
The FTSE 100 has put in a strong performance over the past four sessions, rebounding from the low below 7100.
Wednesday saw a drop from 7260 to 7200, and this pullback provided a good entry point for longs. Fresh gains above 7260 head towards 7370, and if this is retaken then 7530 comes into view. A move below 7200 dents the bullish thesis, but a move back below 7140 is needed to suggest that the sellers are back in control.
DAX encounters near-term resistance
Since racing higher at the beginning of the week, the DAX has stalled around the 50-day simple moving average (SMA) of 12,056.
A break higher from here targets 12,120 and then 12,300. Short-term support at 11,950 has been seen over the past two days; if this breaks then 11,700 is the next area of possible support.
S&P 500 continues to rally
The price of the S&P 500 has pushed to a one week high, breaking trendline resistance from the May record high.
A drop back to 2800 in yesterday’s session provided a retest of the trendline from above, and with this successfully accomplished the advantage appears to lie with the bulls. Further gains target 2870, and then 2890, and with this cleared the way would lie open for a push to 2960. A move back below 2790 would be needed to suggest that the run higher is under threat.
This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.
Seize your opportunity
Deal on the world’s stock indices today.
- Trade on rising or falling markets
- Get one-point spreads on the FTSE 100
- Unrivalled 24-hour pricing
See opportunity on an index?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on an index?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from one point on the FTSE 100
- Trade more 24-hour indices than any other provider
- Analyse and deal seamlessly on smart, fast charts
See opportunity on an index?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
