Levels to watch: FTSE 100, DAX and S&P 500
Yesterday’s weakness has been shrugged off, with a steady recovery so far in indices.
FTSE 100 mixed but holding steady
A choppy week has seen the FTSE 100 make little upward progress, but dips towards 7080 have found buyers.
If we can see a move above 7180, and above trendline resistance around 7160, then 7250 comes back into view. A bearish move requires a drop back below 7080 and then through 7040.
DAX holds higher low
While the DAX was knocked back yesterday, it has managed to hold 11,470 overnight, creating a possible higher low.
A fresh push higher targets 11,640, and then on to 11,683. A decline below 11,470 would bring 11,400 into view.
S&P 500 continues to gain
The S&P 500’s different make-up means it has not been heavily affected by the fall in Boeing stock, and as a result the index has held its ground all week and may now be pushing higher.
A close above 2820 opens the way to the all-time highs around 2940. Below 2780, the price ill-risks a deeper retracement towards 2720 and then 2680.
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