FTSE 100, DAX and S&P 500 all continue to gain

Indices have made further gains this morning, renewing their bullish outlook after Tuesday’s mixed session.

FTSE 100 continues its surge

The FTSE 100 has found renewed bullish momentum in early trading, rallying through trendline resistance from the 21 July peak and setting its sights on the previous lower high at 6150.

It looks like the index has formed a low at 5850 and is now resuming its move higher. So long as the index holds above 5950, we look towards dips as likely buying opportunities.

DAX back at Tuesday’s high

The DAX found support around 12,550, and has now moved back to the 12,740 level that marked the peak on Tuesday.

If it can clear this and move to a new higher high then the bullish view is given further reinforcement, and will bring 12,900 and higher into view. A reversal below 12,500 negates the more bullish outlook and bring another test of 12,200 into view.

S&P 500 breaches 3300

Higher highs and higher lows have been seen for the S&P 500 over the past week. The rally shows no sign of slowing down, with the 3393 peak from February now in sight as the next major upside.

The steepness of the rally over the past few days means trendline support is currently very near to the price, at around 3308, but it would likely take a reversal below 3270 to suggest a more negative view prevails.

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.