FTSE 100, DAX and S&P 500 aiming to move on from difficult Monday

Indices are edging higher this morning, after a tough start to the week.

FTSE 100 attempts to clear 50-day moving average

The FTSE 100 has begun to show signs of life, moving higher over the past two sessions this week.

However, it now needs to push on above the 50-day simple moving average (SMA) at 7226 to target the 7400 peak from late September. Having held the 7100 area over the past three weeks, it would take a move back below this to reverse the more bullish impression, and even here the dips to 7000 in August and early October were swiftly bought (particularly so in October), suggesting that this area may continue to be defended.

DAX aims to recover Monday losses

Weakness yesterday has been replaced with fresh buying, as the DAX looks to create a new higher low around 12,650.

Fresh moves higher will target 12,800 and on from here. Having rallied so strongly since the beginning of the month the index may pause soon to consolidate gains, but the overall outlook for the rest of the year is still strong. A move back below 12,400 would be needed to seriously damage the bullish outlook from here.

S&P 500 looks to challenge 3000 again

Here too the weakness of Monday has stabilised for now for the S&P 500, with the prices finding support above 2980.

Fresh gains head towards 3014, while possible support in a retracement could be found at 2959 and then 2940. Above 3014 the index has breached trendline resistance from the July high, opening the way to the record high from July.

The information 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 Bank S.A. 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 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. See full non-independent research disclaimer.

Seize your opportunity

Deal on the world’s stock indices today.

  • Trade on rising or falling markets
  • Get one-point spreads on the FTSE 100, 1.2 on the Germany 30, and 0.4 on the US 500
  • Unrivalled 24-hour pricing

See opportunity on an index?

Try a risk-free trade in your demo account, and see whether you’re on to something.

  • Log in to your demo
  • Try a risk-free trade
  • See whether your hunch pays off

See opportunity on an index?

Don’t miss your chance – upgrade to a live account to take advantage.

  • Get spreads from one point on the FTSE 100, 1.2 on the Germany 30, and 0.4 on the US 500
  • Trade more 24-hour indices than any other provider
  • Analyse and deal seamlessly on smart, fast charts

See opportunity on an index?

Don’t miss your chance. Log in to take your position.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.