FTSE 100, DAX and S&P 500 still in bullish form
It has been a good few days for indices, with the September rally still firmly in place.
FTSE 100 steady above 7300
The FTSE 100 has climbed throughout the week and remains on an upward trajectory.
The push through the 50- and 100-day simple moving averages (SMAs) leaves it with 7556 and 7644 as the next major targets. With equities still in robust form around the globe, it would take a move back below 7200 to suggest that a leg lower is likely.
DAX still advancing
The straight-line move continues for the DAX, with weakness yesterday lasting barely an hour before fresh buyers came in to push the price higher.
Fresh gains head towards 12,600. A possible retracement towards 12,200 may work off some of the dramatic push higher while leaving the broader rally intact.
S&P 500 targets previous record
Gains over the past week have carried the S&P 500 back, within a few points of the all-time high.
Weakness towards 2960 may provide another buying opportunity, but the bullish move remains intact unless the price drops below 2900.
This information has been prepared by IG, a trading name of IG Australia Pty Ltd. 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 40
- The only provider to offer 24-hour pricing
Live prices on most popular markets
- Forex
- Shares
- Indices
