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​​FTSE 100, S&P 500 and Nikkei 225 move higher​

Indices saw their recovery stall on Monday, but have made some more progress overnight.

FTSE 100 Source: Adobe images

​​​FTSE 100 breakout continues

​The end of last week saw the FTSE 100 index stage an impressive breakout from the range that had dominated since the end of May.

​The price smashed through the 50-day simple moving average (SMA), and rallied to a two-month high, having hit a three-month low on Thursday.

​While it stalled yesterday, it has begun to move higher again, and seems on course to move back to the May highs. A close back below 8200 would be needed to negate this view.

FTSE 100 chart Source: ProRealTime
FTSE 100 chart Source: ProRealTime

​S&P 500 forms higher low

​The S&P 500 index continues to form a low, having rallied back above the 50-day SMA after falling to 5400 last week.

​A close above 5500 would help to cement the bullish view, and put the index back on a trajectory to hit the July highs. Despite the excitement around the recent volatility, this looks like a normal pullback.

​A reversal back below 5400 is needed to put the sellers back in charge.

S&P 500 chart Source: ProRealTime
S&P 500 chart Source: ProRealTime

​Nikkei 225 moves higher

​The Nikkei 225's huge drop has been halted for now, after it briefly moved below the 200-day SMA last week.

​While it was little-changed on Monday, it has made more gains overnight, and has moved back above the 38,300 level that marked support in June. Further gains target the 100- and then 50-day SMAs, and then the 40,000 level.

​Sellers will want a close back below the 200-day SMA, and then a fresh move below 37,500, to open the way to more downside.

Nikkei 225 chart Source: ProRealTime
Nikkei 225 chart Source: ProRealTime

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