FTSE 100, DAX 40 and S&P 500 flirt with new record highs
The FTSE 100, DAX 40, and S&P 500 flirt with new record highs but may lose some upward momentum due to end-of-week profit-taking.
FTSE 100 flirts with record high
The FTSE 100's strong rally has taken it to a record high of 8583 on Wednesday, with the 8600 mark in sight. This bullish scenario will remain in play as long as Thursday's low at 8509 underpins the index.
Further down, the May peak at 8479 is expected to offer support if revisited.
FTSE 100 daily chart
DAX 40 probes 21,500 region where it may lose upside momentum
The German DAX 40 has seen six consecutive days of gains and reached the 21,500 upside target zone, around which it is expected to lose upside momentum.
Immediate support is seen at Wednesday's high of 21,337, with further support found at Thursday's low of 21,223.
DAX 40 daily chart
S&P 500 racks up second day of record highs and remains bid
The S&P 500 has experienced five straight days of gains and continues to trade at record highs, having risen to 6122 on its way to a 161.8% Fibonacci extension target at 6271.
Potential slips are likely to find support around the 6099 December peak. Further minor support can be spotted at the 26 December high of 6044, ahead of the early January high at 6018 and the psychological 6000 mark.
S&P 500 daily chart
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