Nasdaq 100, S&P 500 see strong recovery rallies but FTSE 100 stays range bound
Nasdaq 100, S&P 500 see strong recovery rallies but FTSE 100 stays range bound as probability of 50 bps Fed rate cut increases.
Nasdaq 100 ends week on a high
This week the Nasdaq 100 rallied by nearly 6%, regaining most of its 22 August-to-September losses. It is getting ever closer to its July-to-September downtrend line at 19,495 which may cap, together with the 19,631 late August high. If overcome, the August peak at 19,938 will be back in focus.
Potential slips may find support around the late August 19,081 low.
FTSE 100 in the doldrums
The FTSE 100 continues to oscillate around the 55 day SMA at 8,239, having come off Thursday's 8,306 high. Further range trading seems to be at hand.
Minor support can be spotted at Wednesday’s 8,169 low and major support at its early September 8,153 low.
Only a rise above Thursday's 8,306 and the late June 8,314 highs could put the 8,374 mid-August peak back on the cards.
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.
