Levels to watch: FTSE 100 and S&P 500

Indices have rallied off their recent lows, and for the time being the buyers seem to have the upper hand.

FTSE 100 holding on above 6700

Last week was another volatile one for the FTSE 100, with steep gains and rapid losses, but the index continued to hold the 6520 low.

However, while the bulls did manage to get the index to rally into the end of the week, it has yet to push on above 6760, where it stalled last Thursday. Above this, 6840 and then 6920 come into play. Friday saw buyers emerge around 6640, so this may be an area of potential support.

FTSE 100 chart

FTSE 100 chart

S&P 500 buoyed by strong momentum

The S&P 500 rallied hard last week, and for now it has held on to the gains. So far dips over the past few days have been buying opportunities, and any pullback towards 2400 may also see fresh buying pressure develop.

A push above last week’s high around 2520 would open the way to 2550 and 2600. For now the bullish view prevails in the short term, but a move back below 2400 would likely suggest a retest of the lows around 2315.

S&P 500 chart

S&P 500 chart


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.

See an opportunity to trade?

Go long or short on more than 16,000 markets with IG.

Trade CFDs on our award-winning platform, with low spreads on indices, shares, commodities and more.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
Sell
Buy
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Sell
Buy
Change
Sell
Buy
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Friday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.

All trading involves risk and losses can exceed deposits. Trading CFDs may not be suitable for everyone so please ensure that you fully understand the risks involved. All trading involves risk and losses can exceed deposits.