Levels to watch: FTSE 100, DAX and S&P 500
Stock markets are still looking strong, after steady gains over the past few days.
FTSE 100 rallies in early trading
The FTSE 100 continues to climb, testing the 7215 area that marked the peak just over a week ago.
This new higher high confirms the uptrend, and would bring 7240 and 7260 into play. Rising trendline support comes into play around 7170.
DAX stuck below 11,640
The DAX's gains this week have stalled at 11,640, but rising trendline support suggests that dips down towards 11,540 will find buyers and that a rally to 11,704 is in the offing.
The positive view continues to prevail unless we see a close below 11,460.
S&P 500 still in bullish form
A breakout above 2815 continues to elude the S&P 500, but steady gains have been seen over the past few days.
Steep rising trendline support has held over the past few days, but even a deeper retracement towards 2800 would still be a possible buying opportunity. A close below 2730 is needed to revive the bearish view.
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
