DAX 40, S&P 500 trade near record highs and FTSE 100 in 2 ½ month high
DAX 40, S&P 500 trade near record highs and FTSE 100 in 2 ½ month high amid positive US retail sales and initial jobless claims data.
FTSE 100 trades in 2 ½ month highs
The FTSE 100 managed to rise above its 8,372 mid-September high and hit a 2 ½ year high at 8,397, made close to the early and late August peaks at 8,404-to-8,419 which are expected to act as resistance. If overcome, however, the May peak at 8,479 would be in focus.
Support can be seen between the 8,336-to-8,335 late September and early October lows and further down along the 55-day simple moving average (SMA) at 8,270.
DAX 40 hovers below record high
The DAX 40 has come off Thursday’s new record high at 19,681 and now flirts with the late September peak at 19,492. Below it lies Wednesday’s 19,403 low. As long as it holds, the short-term uptrend remains intact. Below it the August-to-October uptrend line can be spotted at 19,238.
A rise above 19,681 would engage the psychological 20,000 mark.
S&P 500 trades near record high
The S&P 500 trades marginally below its Thursday record high at 5,882, above which beckons the psychological 6,000 mark.
Minor support can be made out at Tuesday’s 5,805 low. While it underpins, the short-term uptrend remains valid. Below this level lies the 5,773 late September high.
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