FTSE 100 and Dow hold near highs
The FTSE 100 is close to Friday’s highs, while the Dow remains close to its record peak.
FTSE 100 hovers at five-month high
The FTSE 100 topped 7550 briefly on Friday, for the first time since the end of July.
7600 is the next target, followed by 7644, but the rapid and seemingly relentless ascent is unlikely to go on for ever. Pullbacks towards 7440 may provide support, while below this a rising 50-day SMA (simple moving average), currently at 7325, may also help in the event of any pullback.
Dow holds at record high
Friday saw the Dow hit a fresh record high, and futures are already turning higher again this morning.
Rising trendline support from the December low has continued to hold up the market over the past few weeks, but a break of this could see 28,000 and then 27,400 tested.
This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa 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.
Take a position on indices
Deal on the world’s major stock indices today.
- 1-point spread on the FTSE 100 and Germany 40
- The only provider to offer 24-hour pricing
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only