FTSE 100 & S&P 500 higher but DAX struggling
The FTSE 100 has come back from its long weekend and is trying to move higher, but the DAX remains under pressure. Meanwhile, the S&P 500 is hoping for better news on earnings to build a rally.
![FTSE 100](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/news-article-image-folder/BG_ftse_100_ukx_indices_098098.jpg/jcr:content/renditions/original-size.webp)
FTSE 100 still eyes recent peak
The more encouraging picture for the FTSE 100 remains broadly in place.
The index spent the best part of its shortened week last week recovering lost ground, in an admittedly cautious fashion, but it was nonetheless able to push back towards the 7630 level and has continued this run in early trading on Tuesday.
Commodity prices are once again playing their part, moving higher and providing a reason for the mining and oil elements of the index to make headway.
The next targets to the upside remain 7690 and then 7730, as the index looks to recoup the February 2022 highs, and then move on to recover levels not seen since early 2018. A push above 7690 would mark a break to the upside from those February highs, and help to revive a more bullish view.
For now a short-term bearish view seems difficult to construct, but a drop back below 7530 would reverse the gains of the last few sessions and provide hope to the sellers.
![FTSE 100 chart](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/platform-article-images/FTSE_190422.png/jcr:content/renditions/original-size.webp)
DAX continues to hold support
The sideways movement of the past few days continues.
Bank holidays in much of Europe have meant that trading activity has been light, but the European Central Bank's (ECB) surprise dovishness at last week’s meeting has helped European stock markets to steady themselves.
Fears of a hawkish turn in policy have been allayed for now, reducing concerns about the impact of higher interest rates on the economy and earnings, but the worries about inflation of course remain in place.
The decline from the end of March seems to have stalled for the time being, and the index continues to hold just above 14,000. However, gains over the last few sessions have been contained at 14,175.
Buyers emboldened by a higher low will need to drive the price through this area in order to bolster the bullish outlook. This would then bring 14,840 into view once again.
![DAX chart](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/platform-article-images/DAX_190422.png/jcr:content/renditions/original-size.webp)
S&P 500 moves back above 4400
Hopes of a bounce last week were dashed when the index lurched lower on Thursday.
Earnings from the banks, which kicked off earnings season in their traditional place, failed to do much to inspire bullishness, as comments about a slowing economy, the impact of inflation and the risks of higher interest rates provided little in the way of good news.
A broader swathe of companies begin to report from this week onwards, although many of the same concerns remain. T
hursday saw the index slump back below the 50-day simple moving average (SMA), and while the price recovered yesterday, it remains below the 50-day MA.
This drop below 4390 put the price below resistance once again, but it did recover to reclaim 4400 and leave hope for the buyers that a bounce may yet materialise.
Continued declines over the medium term bring the March low back into view.
![S&P 500 chart](http://a.c-dn.net/c/content/dam/publicsites/igcom/uk/images/platform-article-images/SPX_190422.png/jcr:content/renditions/original-size.webp)
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