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

Indices have had a brief recovery but the sellers are in charge once more.

FTSE 100 begins to fall once more

After holding the line yesterday, the FTSE 100 is slipping lower once again.

It has created a new lower high on the intraday charts, with the low from Monday at 7489 now in sight. Below this, 7340 comes into view. A push above 7590 would suggest a move back towards resistance at 7700, but overall price action so far suggests that the sellers remain in charge.

DAX recovery short-lived

Yesterday’s session saw the DAX finish off the lows, but those efforts have been undone early today.

The steep falls confirm the bearish price action from earlier in the week, and now the next big area of support seems to be 11,704, the lows from March. Any recovery above 12,400 would be taken as a bullish development.

S&P 500 takes a turn lower

The downward move has resumed this morning for the S&P 500, with the price heading back towards the lows of the week at 2698.

Below this, 2676 comes into play, and then on down to rising long-term support around 2650.

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.