FTSE 100, S&P 500 and Nikkei 225 continue to push higher
There has been a further recovery from the lows of the week for global stock markets, though there is still the possibility of further declines.
FTSE 100 back above 8100
The FTSE 100 index has continued to recover from the lows of the week. It now finds itself back above 8100, and thus above the support zone of June and July.
Further gains target the 8300 level and then on to 8400. A close back below 8050 would suggest some additional near-term weakness.
S&P 500 fills Monday’s gap
Another leap higher yesterday means that the S&P 500 index has now filled the gap down from Monday.
This bullish development puts the S&P 500 on course for more gains, towards 5400 and then 5560 from late July. Sellers will need a reversal back below 5200 to negate the bullish outlook.
Nikkei 225 rebound goes on
The rebound off the lows of the week continues, with the Nikkei 225 having surged over 4000 points from its low. While it remains significantly lower than it was two weeks ago, it has recouped almost all the losses of this week.
Many hurdles lie ahead of it, including previous support at 36,707 and then 37,606, Given the volatility of the past week, there is still potential for more losses, and a close below 34,000 might signal a new move lower has begun.
This information has been prepared by IG, a trading name of IG Markets 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.
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
