FTSE 100, DAX and S&P 500 all advancing once again

Indices have been bolstered by comments from Jerome Powell, who hinted at the possibility of more action in an interview this weekend.

FTSE 100 starts the week in bullish form

The FTSE 100 has recovered from its weakness, finding support above 5600 and pushing back towards 6000 as the recovery gathers pace.

Above 6015 the 6200 peak from the end of April comes into view, and this would then lead on to a test of the gap down from early March. Two dips towards 5600 in May so far confirm that any bearish move needs to take out this level to open the way to further downside.

DAX makes strong early gains

Last Thursday saw the DAX continue the fall from earlier in the week, but the price found support at 10,200, as it did in mid-April. A continued push higher now targets 11,000 and then 11,265, where the bounce stalled in April.

The index has really been in a range for over a month, moving from 10,200 to 11,265 and then back down, so a decisive break either below the former or above the latter is needed to establish the next direction for the medium term.

S&P 500 edges higher again

This S&P 500 has been in a range for a month, bouncing from 2800 towards 3000 before dropping back again.

The losses earlier last week and then the recovery in the second half leave this view intact. Above 3000 the index finally clears the March gap down, targeting 3130. Alternatively, losses below 2800 open the path to 2730 and then 2600.

IGA, may distribute information/research produced by its respective foreign affiliates 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.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. 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, and 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.

Please see important Research Disclaimer.

Take a position on indices

Deal on the world’s major stock indices today.

  • Trade the lowest Wall Street spreads on the market
  • 1-point spread on the FTSE 100 and Germany 40
  • The only provider to offer 24-hour pricing

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
liveprices.javascriptrequired
liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.