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

The pre-Christmas rally goes on, with no joy for those of a pessimistic disposition.

Data trader on the phone while viewing data screens
Source: Bloomberg

FTSE 100 aiming to challenge highs of October

As news flow dries up, it looks like the FTSE's drift higher will continue to dominate. The October high around 7134 is now less than 100 points away, with 7078 and 7108 potential areas of resistance along the way.

We could see 6999 and then 6969 provide support, but it would still need a move below 6877 to really indicate that a shift downward is in play.

FTSE 100 price chart

DAX clears the way to 11,641 and beyond

The index has managed to move above the key 11,430 area that had been acting as resistance. The way is now clear to 11,641 and 11,831.

Only a move below the weekly pivot at 11,332 might begin to suggest a leg lower is beginning. Dip buyers may look to find intraday support around 11,400 and then 11,349.

DAX price chart

S&P 500 closes in on all-time highs

While all eyes are focussed on the Dow Jones 20,000, the slow grind upwards continues for the broader S&P 500.

The areas to watch are 2274 and then 2278, with a break above here putting the index in all-time high territory once more. We’ve seen 2255 providing strong support over the past week, with a real correction needing a move below 2230. 

S&P 500 price chart

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