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

Indices continue to weaken this morning, hit by trade war concerns and a miss in eurozone PMIs. 

FTSE 100 eases off record high

The steady uptrend of the past few weeks for the FTSE 100 posted a new record high yesterday, with a modest pullback in progress so far this morning.

Dips towards 7750 remain potential buying opportunities, with a break below this level pointing towards a move to 7589.

DAX takes a knock

Weakness in German purchasing managers indexes (PMIs) has prompted a drop here for DAX in the early part of the session, testing the rising trendline from 4 April.

Below 13,010, 12,954 comes into view, while below this 12,742 and 12,663 are areas of possible support. A turn higher targets the 13,200 area and then onwards towards 13,600.

S&P 500 closes Sunday gap

The S&P 500 has closed the gap from Sunday night, and is heading towards the 2700 zone of support that held last week.

Below this, 2682 and 2647 come into play. A turn higher targets 2740 and then 2790. 

IGA, may distribute information/research produced by its respective foreign marketing partners within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IGA Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. 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. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

See important Research Disclaimer.