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Indices are continuing the indecisive trading seen recently, but the balance of power appears to be shifting to the sellers.

CFDs are a leveraged product and can result in losses that exceed deposits. Trading CFDs may not be suitable for everyone, so please ensure you fully understand the risks and take care to manage your exposure.
Data chart
Source: Bloomberg

FTSE’s drift lower continues
The index fell back from the 6200 area yesterday once again, dropping through the rising trendline off the August lows and putting the emphasis back on the downside. The price has dropped through 6100 as well, with a continuation of this move heading towards 5985 and then 5906.

The daily RSI, already drooping yesterday, has turned lower; combined with the failure to push on through 6200 that we saw in September, the path of least resistance seems to lie to the downside. It would take a bounce back above 6200 to put the buyers back in control, with a possible move to 6320 likely if that transpires.

DAX  heading towards 10,000
​Here too the buyers look to be losing what little control they have; the drift lower goes on, with a move to 10,000 itself on the cards if the bulls cannot push it back above 10,280 in short order. Beyond 10,000 is 9871, with a move below here opening the way back to August lows. It would take a bounce back to 10,386 to suggest that the buyers are back in control.

Dow bears eye 16,215
The 16,500 level has acted as a firm ceiling to any progress here, and downward progress is lacking too (understandably so, given the nearness of the Fed decision). We could easily see this rangebound trading persist until Thursday evening. It would take a move through 16,500 and then a test of the 16,706 area to suggest the buyers still have the upper hand, while bears will be looking for a push back towards 16,215 and then 16,100. 

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CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.