FTSE 100, DAX and S&P 500 still in bullish form

It has been a good few days for indices, with the September rally still firmly in place.

FTSE 100 steady above 7300

The FTSE 100 has climbed throughout the week and remains on an upward trajectory.

The push through the 50- and 100-day simple moving averages (SMAs) leaves it with 7556 and 7644 as the next major targets. With equities still in robust form around the globe, it would take a move back below 7200 to suggest that a leg lower is likely.

DAX still advancing

The straight-line move continues for the DAX, with weakness yesterday lasting barely an hour before fresh buyers came in to push the price higher.

Fresh gains head towards 12,600. A possible retracement towards 12,200 may work off some of the dramatic push higher while leaving the broader rally intact.

S&P 500 targets previous record

Gains over the past week have carried the S&P 500 back, within a few points of the all-time high.

Weakness towards 2960 may provide another buying opportunity, but the bullish move remains intact unless the price drops below 2900.


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