FTSE 100, DAX and S&P 500 all advancing once again

Indices have been bolstered by comments from Jerome Powell, who hinted at the possibility of more action in an interview this weekend.

FTSE 100 starts the week in bullish form

The FTSE 100 has recovered from its weakness, finding support above 5600 and pushing back towards 6000 as the recovery gathers pace.

Above 6015 the 6200 peak from the end of April comes into view, and this would then lead on to a test of the gap down from early March. Two dips towards 5600 in May so far confirm that any bearish move needs to take out this level to open the way to further downside.

DAX makes strong early gains

Last Thursday saw the DAX continue the fall from earlier in the week, but the price found support at 10,200, as it did in mid-April. A continued push higher now targets 11,000 and then 11,265, where the bounce stalled in April.

The index has really been in a range for over a month, moving from 10,200 to 11,265 and then back down, so a decisive break either below the former or above the latter is needed to establish the next direction for the medium term.

S&P 500 edges higher again

This S&P 500 has been in a range for a month, bouncing from 2800 towards 3000 before dropping back again.

The losses earlier last week and then the recovery in the second half leave this view intact. Above 3000 the index finally clears the March gap down, targeting 3130. Alternatively, losses below 2800 open the path to 2730 and then 2600.


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
liveprices.javascriptrequired
liveprices.javascriptrequired
liveprices.javascriptrequired

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.