FTSE 100 stumbles but DAX and S&P 500 move higher
While the FTSE 100 is still struggling, the overall move higher on the DAX and S&P 500 continues.
FTSE 100 struggles for a second day
The FTSE 100 has stumbled over the past two days, upward progress having stalled at 7550.
However, downward moves have been held at 7400, with early weakness this morning running into buying pressure around this level. A break below 7400 targets 7300 and 2019 rising trendline support, and then down to the January low at 7250. A rally through 7550 opens the way to 7650 and 7700.
DAX continues to move higher
The DAX managed to recover from its early weakness on Thursday in spectacular fashion.
A bounce from previous resistance at 13,600 saw the price power to a new record. Further gains above 13,800 put us in new record territory. A move back below 13,600 might signal that some near-term weakness is at hand.
S&P 500 at new peak
US markets have continued to demonstrate bullish momentum, with the S&P 500 closing in on 2400.
Early weakness yesterday was swiftly bought, with the price establishing a higher low around 3350. The short-term trend higher remains firmly intact. A more bearish view would need to see a lower high and a push below 3350.
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
