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

Indices show no sign of stopping their move higher, although it is still only a small dent in the losses seen in October.

FTSE 100 finds the strength to keep rallying

There has been a steady push higher for the FTSE 100 over the past week. Dips have been bought, while new higher highs have been created in the intraday charts.

If the index can close above 7130 today then we have seen a break of the range that held in the second half of October. Further targets lie at 7225, and then on to potential trendline resistance from the August highs, around 7350.

DAX heads towards recent peak

The mid-October bounce of the DAX petered out at 11,850, so this is the first area to watch for possible resistance.

Dips towards 11,430 found buyers over the previous two days. A firm close below this area would be needed to suggest that the steady push higher has run its course.

S&P 500 shrugs off Apple earnings

There has been a relentless climb higher for S&P 500 for four days, and dips yesterday found support around 2700.

Further gains above the 200-day simple moving average (SMA) of 2763 will target 2800 and the mid-October high at 2822. A revival of the bearish view would require a close below 2700.

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