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 and DAX still falling but S&P 500 rises after strong earnings

European markets are struggling to move higher, but strong earnings from big tech stocks have given the S&P 500 a lift.

FTSE 100 still under pressure

The FTSE 100 has yet to see much of a rebound, and continues to push lower, although yesterday’s dip below 6000 was bought.

If the price can move back above 6050 then another challenge of 6150 may develop, and gains above this level would help to revive a more bullish view. A renewed push below 6000 restores the advantage to the bears.

DAX bounces from 12,300

Thursday saw heavy losses for the DAX, which was pushed to its lowest level since the beginning of the month. However, for now, it has held 12,300, bouncing twice from this level.

Further gains above 12,550 will target trendline resistance from the late-July peak above 13,300, and a more bullish view will need to see the price clear 12,900 to both move above this trendline and above Wednesday’s lower high.

S&P 500 rallies after touching 3200

Tech earnings last night provided the catalyst for the S&P 500 to bounce once again from around 3200.

Having seen a progression of higher highs over the past week, we look for the index to push on above 3280 and resume the broader uptrend. Sellers will need to drive the price back to 3200, and then push it below this level, to open the way to further downside.

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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