FTSE 100, DAX and S&P 500 quiet ahead of NFP
Indices are holding their ground ahead of the US jobs report, as the recent rallies in the DAX and the S&P 500 consolidate.
FTSE 100 holds above 50-day SMA
The FTSE 100 dropped back sharply yesterday, but found support around the 50-day simple moving average (SMA) of 7253.
If this holds, a rebound towards 7350 and the recent highs could play out, and from there 7440 is the next target. A close below 7240, yesterday’s low, would open the way to 7130.
DAX quiet ahead of US jobs report
The DAX’s dips towards 12,800 have found buyers, although gains above 12,950 have proven impossible to sustain.
Further declines head towards 12,600 if 12,800 is broken. A close above 13,000 reignites the move higher.
S&P 500 edges back from highs
The S&P 500 remains close to the previous peak, with a dip to 3020 yesterday finding support.
Further declines head towards 2970 and the 50-day SMA, while a turn back above 3040 would mark the beginning of a fresh push higher.
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