FTSE 100 and Nikkei 225 higher, but S&P 500 rebound stalls
While the FTSE 100 and Nikkei 225 are making strides higher, the S&P 500 is struggling to continue its rebound.
FTSE 100 in recovery mode
The FTSE 100 index continues to recover from its low on Monday, rallying back above 8000 yesterday and moving higher in early trading.
Further gains target the August high at 8400, and then on to the record high from May just below 8500. A close above the June and July support level around 8140 bolsters the bullish view, while a reversal back below 8040 would negate this view for the time being.
S&P 500 struggles to push higher
A more modest bounce has been seen here over the last few days, with the S&P 500 price rebounding off the lows but struggling to make further progress.
A close above 5300 would help to support a bullish view, and provide further indications that a low has been formed. Sellers will be watching for a move back below 5200 that will indicate that a new move lower towards 5100 could be at hand.
Nikkei 225 rebounds above 35,000
The Nikkei 225 index has rallied once more, after an indecisive session on Tuesday.
While it remains heavily oversold, it has managed to move back above 35,000. Further gains target the April low at 36,707 , and then the late May low at 37,660. A turn lower below 37,000 risks the creation of a lower high and renewed bearish momentum.
This information has been prepared by IG, a trading name of IG Australia Pty Ltd. 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.
Take a position on indices
Deal on the world’s major stock indices today.
- Trade the lowest Wall Street spreads on the market
- 1-point spread on the FTSE 100 and Germany 40
- The only provider to offer 24-hour pricing
Live prices on most popular markets
- Forex
- Shares
- Indices
