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

Eurozone markets are under pressure once again, while the FTSE remains trapped below 7533. 

US trader
Source: Bloomberg

FTSE 100 – new all-time highs coming?

At best we are seeing a drift higher, at worst a consolidation. We still wait to see whether the FTSE 100 can break to new all-time highs, above 7533.

The short-term support levels to watch remain at 7448 and then 7385.

FTSE chart

DAX holds at 12,580 for now

European markets have been the laggards this week, left out as the US hits new all-time highs. So far though, 12,580 has prevented any sustained downside for the DAX, so if this holds a push back to 12,700 cannot be ruled out.

A daily close above the latter will be the signal for another run to all-time highs.

DAX chart

S&P 500 long positions opportunities

All-time highs yesterday and then a gentle pullback provide the opportunity to add to long positions, as the march higher goes on for the S&P 500.

A close back below 2400 would reverse the short-term trend, although longer-term it takes a move below 2350 to reverse the short-term trend.

S&P 500 chart

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