Levels to watch: FTSE 100, DAX and S&P 500
The S&P 500 is now within easy distance of its previous record high, while the DAX is holding above 12,000. Meanwhile, the FTSE 100 is still struggling to break trendline resistance.
FTSE 100 contained by trendline resistance
The FTSE 100 continues to bump along below trendline resistance from the all-time highs, so far unable to summon up the bullish momentum needed to break higher.
However, a dip below 7400 last week found buyers, so there is still some pressure. A break higher targets 7560, with a more bearish view requiring a move back below 7300.
DAX still bullish above 12,000
Gains above 12,000 are still hard to sustain for the DAX, although the dips last week found buyers.
Further gains above 12,030 take the index on towards 12,300. A close below 11,800 opens the way to more short-term downside, towards 11,700 and then rising trendline support from the December low.
S&P 500 sets its sights on new highs
The long journey from the December low is almost complete, with only just over 1% to go before the S&P 500 returns to the 3 October peak at 2940.
Last week saw support around 2870, and below this trendline support from the 8 March low comes into play.
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