FTSE 100, DAX and S&P 500 under pressure at the start of a new week

Indices ended last week on a poor note, and while they have tried to rally in early trading, investors remain cautious overall.

FTSE 100 holds above recent low

The FTSE 100 was unable to hold its gains on Friday. So far today, the index has managed to avoid any fresh downside, while also remaining above the lows seen last Thursday when it briefly tested the rising 50-day simple moving average (SMA) at 6061.

If we are in the process of seeing the formation of a higher low then the next move for the index is a move above 6220, breaking trendline resistance from the early-June high. This brings 6500 into view. A more bearish view requires the price to move back below 5950, which formed support earlier in June.

DAX struggling to rally after recent losses

Last week saw the DAX drop back from 12,600, with Friday’s session seeing little in the way of sustainable bullish momentum.

The index is fighting to hold 12,000 in early trading, rallying from this level with a move above 12,300 likely to provide a more near-term bullish view. Further declines head towards 11,600, the lows from mid-June.

S&P 500 below 200-day SMA

The S&P 500 has moved back below the 200-day SMA (3024) over the past two sessions, but remains above the 50-day SMA (2986).

Descending trendline resistance comes into play around 3100, with a move above here signalling a more bullish move is in play. Additional downside targets the mid-month low at 2940, previously resistance in late April and early May.

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.