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. See full non-independent research disclaimer and quarterly summary.
FTSE buyers likely to struggle
The index has spent three days trying to push above 6165, to little effect. With NFPs on the calendar for today, buyers may find it a struggle to mount a real push back higher. So far today 6100 has stemmed the selling, so a move through here would open the way to support at 6066 and then 6014. A bounce would need to clear 6165 and then move towards 6212.
DAX bears in control
Buyers have lost control here, failing to push on beyond 10,200. First support is likely around 10,115, with 9920 the next real area where selling may stop. A break higher needs to clear above 10,400, which would finally indicate that the index has resumed its uptrend.
Dow unable to progress past 16,500
The 16,500 level continues to stem the upward move, with further selling taking the index back towards 16,000. Should this be broken, then we look towards the August lows once more. Only a move through 16,700 would really restore the bullish trend, and then the index still needs to regain 17,360.