FTSE 100, DAX and S&P 500 still on the up
It has been a good month so far for indices, which have continued to add to their gains.
More gains for the FTSE 100
The FTSE 100 continues to climb, with the week having seen the index add around 230 points and push through the peak from last Friday at 6240.
A new higher high confirms the uptrend, and while momentum may continue to carry the price higher but pullbacks in the direction of 6150 will create higher lows in the current uptrend.
DAX’s rally continues
The DAX finds itself back above the 200-day simple moving average (SMA) of 12,126 for the first time since late February, moving above 12,000 yesterday and pushing higher in early trading today.
Above 12,230 the price heads towards 12,980 and then on to the February highs at 13,840. A reversal below 11,500 is needed to begin to reverse the prevailing bullish view.
S&P 500 pushes higher again
Having shrugged off the weakness from Friday the S&P 500 has continued to climb, with the smooth and calm uptrend firmly in place.
Dips should continue to be bought until we see the creation of lower highs and lower lows, which for now has not taken place. Further gains target 3130 and then on to 3230.
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