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 Source: Bloomberg

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.

FTSE 100 chart

FTSE 100 chart

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.

DAX chart

DAX chart

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.

S&P 500 chart

S&P 500 chart


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