Levels to watch: FTSE 100, DAX and S&P 500
Hopes of progress in the US-China talks are again lifting equities, with key indices seeing the creation of new highs for the year.
FTSE 100 sets its sights on more gains
The FTSE 100's new high for the year and a higher high in the current uptrend has been created. Now the index targets trendline resistance from the highs of May last year, around 7450. Above here the next target is 7550.
In the short term, the price action below 7300 would be viewed as bearish, but the overall picture is still one where buying the dips seems likely to prevail.
Buyers firmly in control on the DAX
Any pullback towards 11,400 is likely to be a buying opportunity, with a bearish view only reviving with a close blow 11,260.
S&P 500 takes out final resistance before previous all-time high.
If the S&P 500 closes above 2870 today, it will have cleared the last resistance before the all-time high of October 2018 at 2940.
There has been little in the way of a retracement over the past few weeks, but 2860 saw significant support yesterday. The bullish view remains intact unless the price moves back below 2830.
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