FTSE 100, DAX and S&P 500 rally off Thursday lows

Indices have moved off the lows of Thursday’s session, although both the FTSE 100 and DAX are at risk of creating lower highs.

FTSE 100 stages a recovery

Having staged a bounce from the lows yesterday it will be interesting to see if the FTSE 100 can maintain this move and push higher. However, we have seen lower highs since Wednesday, at 5950 and 5890, and if the bounce from yesterday’s lows fails to recover 5900 then further losses may be in store.

These declines will head towards 5660, and below this a lower low is created. However, the index has now bounced from 5660 twice in a month, so this is a key level for both sides to watch.

DAX rebounds from lows

The DAX bounced from the lows of Thursday's session too, but gains may be stalling at the 50-hour simple moving average (SMA) of 10,470.

For the time being, the sequence of lower highs is firmly in place, but if the price can hold above 10,400 or even 10,300. Thereafter, a more sustained recovery may be in play, targeting 10,700 and then 10,900. Alternatively, a renewed push towards 10,200 could take place, an area that has seen significant support since early April.

S&P 500 rallies through trendline resistance

Another recovery for the S&P 500 has caught investors by surprise, with a substantial rally from Thursday’s lows taking out trendline resistance from Tuesday’s peak.

Further gains target 2900 and then 2950. Alternatively, a pullback targets 2810 and then 2770.


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.