Levels to watch: FTSE 100, DAX and S&P 500

Yesterday’s weakness has been shrugged off, with a steady recovery so far in indices.

FTSE 100 mixed but holding steady

A choppy week has seen the FTSE 100 make little upward progress, but dips towards 7080 have found buyers.

If we can see a move above 7180, and above trendline resistance around 7160, then 7250 comes back into view. A bearish move requires a drop back below 7080 and then through 7040.

FTSE 100 chart

FTSE 100 chart

DAX holds higher low

While the DAX was knocked back yesterday, it has managed to hold 11,470 overnight, creating a possible higher low.

A fresh push higher targets 11,640, and then on to 11,683. A decline below 11,470 would bring 11,400 into view.

DAX chart

DAX chart

S&P 500 continues to gain

The S&P 500’s different make-up means it has not been heavily affected by the fall in Boeing stock, and as a result the index has held its ground all week and may now be pushing higher.

A close above 2820 opens the way to the all-time highs around 2940. Below 2780, the price ill-risks a deeper retracement towards 2720 and then 2680.

S&P 500 chart

S&P 500 chart


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