FTSE, DAX and S&P 500 all rallying from Thursday low

Indices rallied off their lows yesterday, and are aiming to continue those gains today.

FTSE 100 pushes on above 5300

As we noted yesterday, dips below 5000 in the FTSE 100 continued to find buyers, providing a potential base.

With the rally from Thursday’s low continuing, the price has moved above 5340. If the next pullback can avoid moving back below 5000 and establish a higher low, then a more bullish view begins to emerge in the short term. Further gains head towards 5720, the highs from the end of last week.

DAX targets more gains after strong bounce

For the DAX, dips below 8500 have run into buyers this week, and have pushed the index to 9160.

A 15% bounce from Thursday’s low means that we might see some near-term weakness, but if it can avoid slipping below 8500 then the nascent bullish view may find more support. Above 9160 the price heads towards 9966 and then 10,200.

S&P 500 rebounds from 2400

2400 provided a floor of sorts for the S&P 500 over the past two weeks, with dips below this level finding buyers as with the other two indices. 2550, 2620 and then 2700 are upside levels to watch.

A drop back below 2400 invalidates the more (guardedly) bullish view, suggesting a drop back towards 2300.

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.

Take a position on indices

Deal on the world’s major stock indices today.

  • Trade the lowest Wall Street spreads on the market
  • 1-point spread on the FTSE 100 and Germany 30
  • The only provider to offer 24-hour pricing

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. All share prices are delayed by at least 20 minutes. Prices are indicative only.

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.