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

Indices have recovered this morning, although non-farm payrolls later today may cap gains in the near term. 

Data
Source: Bloomberg

FTSE 100 eyes 6430

After a difficult start to the week the FTSE 100 has recovered, although it has yet to regain the highs around 6300. A close above 6250 would likely negate the bearish outlook and shift the view back to bullish, with the potential for a move back to the highs of April around 6430.

A weaker close today would reinvigorate the negative outlook and suggest a move to the 200-day simple moving average at 6152, and then down towards the key 6060-6100 support zone that prevented further downside in the March-May period.

FTSE

DAX could move to 9734

The 10,160 level proved to be support over the past couple of days, but the index will need to push on back above 10,385 to confirm that a new upward move is in progress.

A weak finish to the week would put the bears back in charge, with a move to 10,109 (the 200-day simple moving average) and then down to 9734 a possibility. 

DAX

S&P 500 bulls target a move above 2110

The strong finish last night put the index back above 2100, and right underneath the declining trendline off the May 2015 high. Now the bulls need to push the index back above 2110, to clear the way to the previous all-time highs near 2140.

The uptrend looks fairly robust, so unless we see a firm close below 2080 in coming days, the path looks set for the index to move higher.

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