FTSE 100 struggles but DAX and S&P 500 still on the up

Indices have gained over the week so far and bulls will be hoping that this continues now that we are in a new month and a new quarter.

FTSE 100 struggles below 6250

For the FTSE 100, gains this week have stalled at 6250, as they did last Friday. This tends to reinforce the near-term bearish view, potentially opening the way to more declines.

Rising trendline support from Thursday is being tested as the day gets underway in the cash session, with 6110 and 6070 as possible support levels in the event of a further decline. Below 6070, the 5950 lows from the middle of the month are the next target.

DAX still in rally mode

A steady climb has taken place since the Monday lows, although now the DAX has returned to the 12,400 area that has been a stumbling block for several weeks.

Above this, 12,600 is the next target and from there it is on to 12,900. A reversal below 12,200 breaks the sequence of higher lows seen so far this week, and opens the path to 12,000 and lower.

S&P 500 eyes trendline resistance from June peak

The S&P 500 price is heading rapidly back to trendline resistance from the June peak, with the 3110-3120 area likely to provide a hurdle.

Above this, 3160 and then 3230 become the upside targets to watch. Alternatively, a reversal below 3080 would perhaps signal a renewed move down from a new lower high, opening the way to 3000, where the index bounced at the beginning of the week.


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
liveprices.javascriptrequired
liveprices.javascriptrequired
liveprices.javascriptrequired

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.