Levels to watch: FTSE 100, DAX and S&P 500
Another good week for indices confirms that the bull market is still in place, and while some early weakness has been seen so far, the overall trend is still higher.
FTSE 100 reaches key trendline resistance
Friday saw FTSE 100 hit another high for the year, and in the process reach trendline resistance from the May 2018 all-time high.
The index has now gained 14% since Christmas, but shows little sign of stopping for now. A push above 7470 targets the late September high at 7560, and then on to 7650. Pullbacks may find support at 7360, or 7265.
DAX still strong
The recent rally has seen DAX gain 800 points in the space of two weeks.
It now targets trendline resistance from the January 2018 all-time highs, suggesting a push to 12,300, while first-line support in any pullback might be found around 11,700. A deeper retracement targets rising support around 11,650.
S&P 500 eyeing up new record highs
Fresh highs for the year have been seen for S&P 500, and now the last area of possible resistance lies around the all-time highs at 2940.
The 3870 and then 2850 are potential areas of support. Further declines target 2780.
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