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

Indices are back on the front foot, having recovered well during the second half of last week. 

FTSE 100 sees fresh momentum

A solid defence of 7600 last week helped the FTSE 100 to recover from its first meaningful pullback in weeks.

The next major targets come in at 7800 and then the all-time high at 7903. It would take a move back below 7600 to suggest that a more bearish view is developing. Otherwise, intraday dips remain opportunities to add to positions.

DAX finds news strength

The DAX has recovered from the lows of last week, and now is looking to challenge the short-term downtrend from the recent high.

Above 12,830 the index targets 12,953 and then 13,208. Potential support is to be found around 12,742 and then 12,663. Having risen relentlessly from the Thursday low, around 12,550, some weakness is to be expected, but as long as this holds above 12,650 it looks like another buying opportunity.

S&P 500 looks to break 2740

After a dip below 2700 last week, the S&P 500 has recovered and is now poised to challenge the 2740 area that has held back progress since early May.

Above here, 2789 and then 2802 are the targets to watch. Dips towards 2720 may find support, with the index in a steady uptrend from the lows of last Thursday. 

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.