CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure. CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure.

FTSE 100, DAX and S&P 500 all riding high

Indices are in strong form as the new week gets underway, building on the gains of the past week and more.

FTSE 100 clears March gap

The FTSE 100 has finally filled the gap down from early March, as its recovery goes on. Additional upside targets 6875, the peak from early March, with some resistance along the way at 6533.

Having gained so much ground last week the index remains firmly in a bullish frame, although some weakness is to be expected if we see a reversal below last Thursday’s lows at 6320.

DAX moves like a rocket

This DAX sits on a gain of over 25% from the lows in mid-May, and shows no sign of stopping yet. Further gains head towards 12,904, 13,200 and 13,600, the last being the record high from February.

The month-long bounce has been very smooth from an intraday perspective, and like the FTSE 100 we would need to see a drop below 12,325, the low from last Thursday to provide some indication that there is the prospect of a short-term pullback at least.

S&P 500 keeps on rallying

Having cleared the early March highs at 3130, the S&P 500 continues to soar. It now targets 3215, and then on towards 3393, the all-time high.

With such a big move higher, the index may well pause, with a possible drop towards 3130 or even towards 3100 helping to provide a higher low.

This information has been prepared by IG, a trading name of IG 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.
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.

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