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

Indices have turned lower on the last day of the week, after decent gains for the FTSE 100 and S&P 500, but a more difficult few days for the DAX.

World indices
Source: Bloomberg

FTSE 100 still on the up

The bullish move continues for the FTSE 100, with a steady rising trend of higher lows and higher highs seen since the beginning of the week.

A move below 7477 could signal some near-term weakness, while further gains will target 7644 and then the downtrend line from the May all-time high.

DAX rebound stalls

The DAX staged a strong recovery from the lows yesterday, but again an attempt to clear the zone of resistance around 12,430 failed.

This continued inability to clear the zone does bring the current rally into doubt, although for now there appear to be plenty of buyers willing to step in around 12,300. A break below 12,250 would signal that the sellers are back in charge. Above 12,450, the price will have cleared the downtrend line from the June highs, pushing on towards 12,610.

S&P 500 struggles below 2930

While the S&P 500 rallied off the lows, it has found 2930 to be a stumbling block all week.

A clearance of this level opens the way to the all-time highs seen just last week, while a move below 2900 suggests further weakness in the direction of 2870.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material 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 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. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research 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.

Find articles by analysts