FTSE 100, DAX and S&P 500 rally off Thursday lows
Indices have moved off the lows of Thursday’s session, although both the FTSE 100 and DAX are at risk of creating lower highs.
FTSE 100 stages a recovery
Having staged a bounce from the lows yesterday it will be interesting to see if the FTSE 100 can maintain this move and push higher. However, we have seen lower highs since Wednesday, at 5950 and 5890, and if the bounce from yesterday’s lows fails to recover 5900 then further losses may be in store.
These declines will head towards 5660, and below this a lower low is created. However, the index has now bounced from 5660 twice in a month, so this is a key level for both sides to watch.
DAX rebounds from lows
The DAX bounced from the lows of Thursday's session too, but gains may be stalling at the 50-hour simple moving average (SMA) of 10,470.
For the time being, the sequence of lower highs is firmly in place, but if the price can hold above 10,400 or even 10,300. Thereafter, a more sustained recovery may be in play, targeting 10,700 and then 10,900. Alternatively, a renewed push towards 10,200 could take place, an area that has seen significant support since early April.
S&P 500 rallies through trendline resistance
Another recovery for the S&P 500 has caught investors by surprise, with a substantial rally from Thursday’s lows taking out trendline resistance from Tuesday’s peak.
Further gains target 2900 and then 2950. Alternatively, a pullback targets 2810 and then 2770.
The information 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 Bank S.A. 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 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. See full non-independent research disclaimer.
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, 1.2 on the Germany 40, and 0.4 on the US 500
- 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, 1.2 on the Germany 40, and 0.4 on the US 500
- 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.
