CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved.

Levels to watch: FTSE 100, DAX and S&P 500

Indices continue to find support, and we are beginning to see meaningful upward momentum developing.

FTSE 100 shrugs off political turmoil

Steady gains are still in evidence, as the FTSE 100 clocks up a new higher high overnight in its move off the lows of last week.

A recovery back above 6840 would be a positive development, and then put 6920 and 7120 into the frame as upside targets. The bullish view persists until the index drops back below 6740.

DAX higher, but more work to be done

The losses for the DAX have stopped for now, but it is not yet clear that a sustained move higher is underway.

A close back above 10,823 would deliver a more bullish message, while a recovery above 11,000 would be a further sign that the buyers are back in charge. A move back below 10,650 would likely invalidate the bullish outlook.

S&P 500 recovers after choppy Tuesday

The gains continue here, as the S&P 500 recovers from yesterday’s sell-off.

Having held 2600 earlier in the week, the index continues to move higher, although it remains within the 2620-2820 range. A meaningful break higher requires a close above 2820. Further hurdles along the way include 2700 and the 50-day simple moving average (SMA) at 2730.

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.

Find articles by writer