FTSE 100, DAX and S&P 500 all edging lower

Indices have drifted lower this morning, and with the US on a half day it may be tricky to summon up much meaningful momentum.

FTSE 100 still unable to push above resistance

The FTSE 100's attempt to push through 7440 ran out of steam yesterday, and losses have continued this morning.

However, it would need a drop back below 7300 to begin to suggest a move back to 7200 is underway, otherwise any weakness today or on Monday might provide another buying opportunity.

DAX stumbles in early trading

Here too the top end of the recent trading range continues to hold for the DAX.

A push to 13,300 earlier in the week ran out of steam, and early price action this morning has seen the price push below the 13,200 support zone seen so far this week. Support may be found at 13,100 and then 13,050, with bullish momentum potentially returning once the US is fully back in action on Monday. A drop below 13,000 would certainly signal more downside ahead.

S&P 500 back from its holiday

US markets return today, although only for a half day. For now, we have seen a higher low created above 3140, and if this holds then a push back above 3150 seems likely to follow for the S&P 500.

Conversely, a push below 3140 would suggest a move back towards the 200-hour simple moving average (SMA) at 3126, a similar situation to the 19 November to 21 November pullback.

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.