Levels to watch: FTSE 100, DAX and S&P 500
Small losses have been seen in indices, and while the uptrends are firmly intact, more downside is possible in the near term.
FTSE 100 pullback continues
The FTSE 100 remains under pressure, falling back towards 7400 and potential support from the now-broken downtrend line from the record highs.
Further declines head towards 730 and then down to 7287 and the 50-day simple moving average (SMA). A break above 7460 restores a more bullish view.
DAX stuck below trendline
Gains have stalled below trendline resistance, and a break above 12,310 is required to set the DAX on course for fresh highs for the year.
Below 12,240 the index heads to 12,200 and then 12,000.
S&P 500 edges back from highs
A modest retracement goes on here, as the S&P 500 drops back from the 2940 area.
Buyers defended 2915 yesterday, previously resistance in mid-April. Further declines below 2910 will target the 2890 area. A rebound towards 2935 restores the course towards new all-time highs.
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
