FTSE 100, DAX and S&P 500 all struggling to hold their ground

Indices have proven unable to hold their gains from earlier in the week, with European markets under particular pressure.

FTSE 100 heading lower again

The FTSE 100 remains above the lows of last Friday, but with the small bounces of the past 36 hours being firmly sold there is an expectation that a retest of 6500 will occur in due course.

If the price can recover 6750 then a bounce back to 6850 is still a possibility. Below 6450, 6075 and then 5715 are downside targets.

DAX returns to recent lows

The DAX is now back to the lows of last week, and while a small bounce is underway, so far a more bullish view in the longer term requires a move back above 12,200, the top of this week’s range.

A daily close below 11,700 brings 11,265 and then 10,860 into view as possible targets.

S&P 500 under pressure

Despite the volatility, the S&P 500 is still more than 4.5% off the lows of last week. It was unable to hold on to gains around 3100, but Tuesday’s dip to 3000 found buyers, as this one may as well.

Further declines target last week’s low below 2900, and from there 2800 and 2730 are the next major levels to the downside. A recovery above 3100 provides a more bullish view in the short term.


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