Levels to watch: FTSE 100, DAX and S&P 500
The S&P 500 is now within easy distance of its previous record high, while the DAX is holding above 12,000. Meanwhile, the FTSE 100 is still struggling to break trendline resistance.
FTSE 100 contained by trendline resistance
The FTSE 100 continues to bump along below trendline resistance from the all-time highs, so far unable to summon up the bullish momentum needed to break higher.
However, a dip below 7400 last week found buyers, so there is still some pressure. A break higher targets 7560, with a more bearish view requiring a move back below 7300.
DAX still bullish above 12,000
Gains above 12,000 are still hard to sustain for the DAX, although the dips last week found buyers.
Further gains above 12,030 take the index on towards 12,300. A close below 11,800 opens the way to more short-term downside, towards 11,700 and then rising trendline support from the December low.
S&P 500 sets its sights on new highs
The long journey from the December low is almost complete, with only just over 1% to go before the S&P 500 returns to the 3 October peak at 2940.
Last week saw support around 2870, and below this trendline support from the 8 March low comes into play.
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
