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

Today has seen a bounce for European indices in early trading, while the S&P 500 is back at record highs.

FTSE 100 still in bullish form

Yesterday saw the FTSE 100 fall back from the end of 2017 record high, but the broad trend higher remains intact.

Futures have clawed their way higher overnight, so we may see a fresh challenge of 7705. Otherwise, 7601, and then 7564, are the first areas to watch for possible support. 

DAX recovers from its dip

The DAX touched its lowest level since the end of September yesterday, but has recovered and is back above the 12,844 support zone.

The next one to watch is 12,954, with 13,095 and then 13,211 coming into play. The strong buying pressure that showed itself around 12,750 suggests the next move for the index will be higher.

S&P 500 eyes new records

The S&P 500 is back at all-time highs, after brief weakness at the end of last year.

Areas of possible support include 2672, 2665, and then 2658. The one-way move from the August lows is still firmly in place. 

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