FTSE 100 sidelined, DAX 40 nears record high as NASDAQ 100 quiet during Columbus Day
FTSE 100 sidelined, DAX 40 nears record high as NASDAQ 100 is expected to remain quiet as much of US is shut for Columbus Day.
FTSE 100 range trades
The FTSE 100 continues to range trade around the 55-day simple moving average (SMA) at 8,265 with Friday’s low at 8,210 acting as support and Thursday’s high at 8,279 as resistance.
A rise above 8,279 would likely engage the 8,335-to-8,336 resistance zone whereas a fall through 8,217 the current October low at 8,183.
DAX 40 approaches record high
The DAX 40 has resumed its ascent from Tuesday’s one-week low at 18,949 with its September record high at 19,492 about to be reached. If exceeded, the psychological 20,000 mark would be back in the frame.
Minor support can be found between Wednesday’s 19,285 and last Monday’s 19,234 high.
NASDAQ 100 still grapples with September peak
The NASDAQ 100's rise from its early October 19,611 low has last week taken it to 20,320, to marginally above its September peak at 20,316, around which it has been trading since. On Monday little trading is expected to be seen as much of the US is shut for Columbus Day. Were last week’s 20,320 high to be bettered, the July all-time high at 20,760 would be back in focus.
A fall through Thursday’s low at 20,111 is needed for last Monday’s low at 19,714 to be revisited. Below it lies the 19,611 early October low.
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