Bargain hunters drive DAX higher
The DAX continues its recovery from the drubbing it received last week. We can see that 12,100 has held as support and now the 12,400 area comes in as a potential target.
From here, trendline resistance from the June highs comes into play around 12,700. A drop back would target support around 12,100, with a close below this suggesting a deeper retracement towards 11,700.
S&P 500 back on track to new highs
Having bounced from 2800, the S&P 500 has continued to gain, with 2864 and then 2877 as the next areas to watch. A move above the latter will mean the index is at new record highs.
A decline will target the 2800 area and then the 50-day SMA at 2792. Below this, any retracement that holds above 2700 is another higher low within the broader uptrend from the end of May.