FTSE 100, DAX and S&P 500 all struggling to hold their ground
Indices have proven unable to hold their gains from earlier in the week, with European markets under particular pressure.
FTSE 100 heading lower again
The FTSE 100 remains above the lows of last Friday, but with the small bounces of the past 36 hours being firmly sold there is an expectation that a retest of 6500 will occur in due course.
If the price can recover 6750 then a bounce back to 6850 is still a possibility. Below 6450, 6075 and then 5715 are downside targets.
DAX returns to recent lows
The DAX is now back to the lows of last week, and while a small bounce is underway, so far a more bullish view in the longer term requires a move back above 12,200, the top of this week’s range.
A daily close below 11,700 brings 11,265 and then 10,860 into view as possible targets.
S&P 500 under pressure
Despite the volatility, the S&P 500 is still more than 4.5% off the lows of last week. It was unable to hold on to gains around 3100, but Tuesday’s dip to 3000 found buyers, as this one may as well.
Further declines target last week’s low below 2900, and from there 2800 and 2730 are the next major levels to the downside. A recovery above 3100 provides a more bullish view in the short term.
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.
