FTSE 100, S&P 500 and Nikkei 225 move higher
Indices saw their recovery stall on Monday, but have made some more progress overnight.
FTSE 100 breakout continues
The end of last week saw the FTSE 100 index stage an impressive breakout from the range that had dominated since the end of May.
The price smashed through the 50-day simple moving average (SMA), and rallied to a two-month high, having hit a three-month low on Thursday.
While it stalled yesterday, it has begun to move higher again, and seems on course to move back to the May highs. A close back below 8200 would be needed to negate this view.
S&P 500 forms higher low
The S&P 500 index continues to form a low, having rallied back above the 50-day SMA after falling to 5400 last week.
A close above 5500 would help to cement the bullish view, and put the index back on a trajectory to hit the July highs. Despite the excitement around the recent volatility, this looks like a normal pullback.
A reversal back below 5400 is needed to put the sellers back in charge.
Nikkei 225 moves higher
The Nikkei 225's huge drop has been halted for now, after it briefly moved below the 200-day SMA last week.
While it was little-changed on Monday, it has made more gains overnight, and has moved back above the 38,300 level that marked support in June. Further gains target the 100- and then 50-day SMAs, and then the 40,000 level.
Sellers will want a close back below the 200-day SMA, and then a fresh move below 37,500, to open the way to more downside.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
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
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
