FTSE 100, S&P 500 and Nikkei 225 continue to push higher
There has been a further recovery from the lows of the week for global stock markets, though there is still the possibility of further declines.
FTSE 100 back above 8100
The FTSE 100 index has continued to recover from the lows of the week. It now finds itself back above 8100, and thus above the support zone of June and July.
Further gains target the 8300 level and then on to 8400. A close back below 8050 would suggest some additional near-term weakness.
S&P 500 fills Monday’s gap
Another leap higher yesterday means that the S&P 500 index has now filled the gap down from Monday.
This bullish development puts the S&P 500 on course for more gains, towards 5400 and then 5560 from late July. Sellers will need a reversal back below 5200 to negate the bullish outlook.
Nikkei 225 rebound goes on
The rebound off the lows of the week continues, with the Nikkei 225 having surged over 4000 points from its low. While it remains significantly lower than it was two weeks ago, it has recouped almost all the losses of this week.
Many hurdles lie ahead of it, including previous support at 36,707 and then 37,606, Given the volatility of the past week, there is still potential for more losses, and a close below 34,000 might signal a new move lower has begun.
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