FTSE 100, DAX and S&P 500 all push higher
Indices have built on their gains, rallying towards new intraday higher highs.
FTSE 100 creates new intraday higher high
The rally from the low of Monday continues, as the FTSE 100 hits 5600 for the first time in over a week.
It has been a mostly straight line up over the past three sessions, with some weakness overnight, but with the index having created a higher high at 5600, a more bullish view is emerging for now. Given the scale of volatility, a pullback to create a higher low might drop towards 5000, but if it can hold above this level then the nascent uptrend begins to take shape. Further upside targets lie at 5730 and 5900.
DAX continues its rally
The DAX has surged from the lows of mid-March around 8200. As with the FTSE 100, there has been little in the way of a pullback since Monday, but with the 9160 level breached a more bullish view is in place.
Further moves higher target 10,200 and then 11,000. Dips that hold above 8500 would be possible buying opportunities.
S&P 500 pushes back to 2500
The passage of the stimulus bill provides more hope for the US economy, and equities have moved higher in anticipation of its passing. While European markets are making new higher highs, the S&P 500 needs to clear 2500 to provide a clearer signal.
This would help it to break the downtrend of March, and follow along the path set by the FTSE 100 and the DAX. Further targets to the upside are found at 2615, 2730 and then 2815. A failure to break 2500 would be a negative development, and bring the 2300 and 2200 support levels into play again.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. 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. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Seize your opportunity
Deal on the world’s stock indices today.
- Trade on rising or falling markets
- Get one-point spreads on the FTSE 100
- Unrivalled 24-hour pricing
See opportunity on an index?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on an index?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from one point on the FTSE 100
- Trade more 24-hour indices than any other provider
- Analyse and deal seamlessly on smart, fast charts
See opportunity on an index?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
