FTSE 100, DAX and S&P 500 edging back after recent gains

Indices are beginning to head modestly lower, after a strong run over the past six weeks.

FTSE 100 wilts after Tuesday bounce fades

The more positive view created in the early part of yesterday’s session has given way to increased caution, as the FTSE 100 retreats from Tuesday’s highs and begins to fall through the post-October rising trendline.

Further weakness might suggest a return to the 50-day simple moving average (SMA) at 7282, which provided support earlier in the week and at the end of October. Intraday, the price is currently oversold, and may see a recovery above 7330 that revives the more bullish view.

DAX stuck below recent highs

Although stuck below 13,300 for now, the price of the DAX has continued to record intraday higher lows, with a drop back from yesterday’s high finding support around 13,200.

The next major resistance above 13,200 is 13,600, the highs from January 2018. We have yet to see even a hint of a bearish reversal that might prompt some near-term weakness.

S&P 500 still finding buyers to push higher

Even small dips continue to be bought for the S&P 500, as seen since yesterday afternoon, when a drop back towards 3080 began.

Buyers have begun to push the price higher once again, and a move above 3100 revives the existing uptrend. Short-term weakness might ensue following a move below 3070.

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.