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

European indices have started the week in more positive form, after a mixed US session. However, a light calendar and fast-approaching quarter-end will make this week a choppy one for markets. 

Source: Bloomberg

FTSE 100

The index needs to push on beyond 6170 in short order to avoid the possibility that it is heading back towards 6100 and then on towards 6000.

The current range remains unbroken, so moves back to 6220 will bring out sellers, while buyers will look to defend 6100. Until these levels are firmly breached the rangebound chop will go on.


The two elements to watch here are the area around 10,000-10,100, where gains have stalled of late, and then the rising trendline off the February lows (currently providing support around 9800).

We wait for a break of these to establish the next direction for the index

S&P 500

Yesterday’s session started well but then saw the index unable to sustain its momentum. It needs to recover 2050 to confirm that the temporary dip is over.

Such a move would also put it above the downtrend line from the November peak. If it moves below 2040 then support may come into view around 2020, and below this 2000. 

This information has been prepared by IG, a trading name of IG Markets 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.