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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

FTSE 100 range bound while S&P 500 trades close to record high and NASDAQ 100 advance stalls​

​​​FTSE 100 range bound while S&P 500 trades close to record high and NASDAQ 100 advance stalls​ ahead of the weekend.​

Indices trading app Source: Adobe images

​​​FTSE 100 range trades

​On Tuesday the FTSE 100 revisited the lower boundary of its September-to-October sideways trading range, slipping to a one-month low at 8,183 before trading back along the 55-day simple moving average (SMA) at 8,266 which currently acts as resistance.

​A rise above Thursday’s high at 8,279 would put the 8,335-to-8,336 resistance zone on the cards whereas a fall through Thursday’s low at 8,217 Tuesday’s low at 8,183. Below it lies the September low at 8,153.

FTSE 100 chart Source: IT-Finance.com
FTSE 100 chart Source: IT-Finance.com

​NASDAQ 100 flirts with September peak

​The NASDAQ 100's rise from its early October 19,611 low has so far taken it to 20,320, to marginally above its September peak at 20,316 following US initial claims which soared to a 14-month high. Were the 20,320 high to be overcome, the July all-time high at 20,760 would be back in sight.

​A fall through Thursday’s low at 20,111 is needed for Monday’s low at 19,714 to be revisited. Below it lies the 19,611 early October low.

NASDAQ 100 chart Source: IT-Finance.com
NASDAQ 100 chart Source: IT-Finance.com

​S&P 500 trades near record high

​The S&P 500 continues to trade marginally below its September record high at 5,797, made on Wednesday. A rise above this level would put the psychological 6,000 mark on the cards. Minor support below the previous all-time high at 5,773 can be spotted at the 4 October high at 5,755. Further down lies key support at the July and September highs at 5,669-to-5,655 as well as the August-to-October uptrend line at 5,662.

S&P 500 chart Source: IT-Finance.com
S&P 500 chart Source: IT-Finance.com

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.

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