Levels to watch: FTSE 100, DAX and S&P 500

While US markets remain robust, the picture for European markets is less encouraging.

German Stock Exchange
Source: Bloomberg

FTSE 100 falters at 7600

The FTSE 100 has failed to make much headway over the past few days, with moves above 7600 finding selling pressure.

For now the 7500 level continues to hold, but a daily close below this opens the way to 7340. Above 7620, the 7700 and 7800 levels are possible upside targets.

DAX rally stifled at 12,400

Gains over the past few days have been limited by the 12,400 level, with the DAX unable to close above here.

A close above 12,450 would open the way to 12,650. A close below 12,300 suggests a broader retracement towards 12,100 support.

S&P 500 remains near highs

Gains have continued here, although the S&P 500 has yet to reach a new all-time intraday high.

Further losses will find support around 2840 and then down to 2800.

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