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

The bounce in European indices has taken a knock, while the S&P 500 remains stuck in a range. 

DAX
Source: Bloomberg

FTSE 100 looks for support after trendline break

The FTSE 100 finished the day below trendline support, making a notable departure from the price action of recent weeks.

Possible near-term areas of support come in at 7729 and then 7685, followed by 7589.

DAX bounces from 12,800

This DAX too has lost the rising trendline that had been in place since the end of March.

However, it has bounced from 12,800, and a move above 12,954 would help restore a more bullish outlook. Further declines target 12,742 and then 12,663.

S&P 500 continues sideways movement

The consolidation goes on here for S&P 500, with dips down towards 2700 finding buyers and rallies up to 2740 hitting selling pressure.

A break high targets 2790, and a drop would likely head towards 2680 and then 2647.

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