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

Indices have seen heavy selling all week, although the US has got off lightly compared to Europe. Now, there are some signs of a rebound. 

FTSE 100 steadies after recent falls

The FTSE 100 remains under selling pressure, and yesterday’s drop from 7660 suggests more downside is likely.

The index fell below the 7590 support level, and so far this morning has not been able to recover this level. Below 7540, the 7490 area comes into view, and then 7390. A move back above 7600 would suggest near-term bullish strength.

DAX touches new two-month lows

Thursday saw the DAX fall to its lowest level since the end of April.

A small recover this morning has seen the index defend the 12,477 area. Near-term resistance lies around 12,550 and then 12,660. Support is possible around 12,408 and then 12,311, while rising trendline support may come into play around 12,200.

S&P 500 fights to recover trendline

US markets have been much less affected by the sell-off, and the S&P 500 is currently fighting to recover the rising trendline from the April lows.

A move back above 2760 would accomplish this and suggest a move back towards 2790. A drop similar to Tuesday’s towards 2728 might well see buyers emerge. 

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.

CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen. 79% van de retailbeleggers lijdt verlies op de handel in CFD’s met deze aanbieder.
Het is belangrijk dat u goed begrijpt hoe CFD's werken en dat u nagaat of u zich het hoge risico op verlies kunt permitteren.
CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen.