FTSE 100, DAX and S&P 500 all in rally mode

Indices have had an extremely strong week, with the DAX in particular firmly bullish.

FTSE 100 keeps rallying

A bounce off trendline support and sharp moves higher for both stochastics and the moving average convergence/divergence (MACD) indicator point towards a resumption of the ongoing uptrend for the FTSE 100.

The price found support around 6325, at the 50-hour simple moving average (SMA) at 6354 and rising support from last Friday’s low. Further gains target 6530 and then on to 6850. Alternatively, a drop below 6320 brings the possibility of a deeper pullback, heading towards 6240 and then 6170 and 6050.

DAX takes off after ECB

For the DAX, yesterday’s drift down towards 12,400 has resolved into a move higher, underpinned like the FTSE 100’s, by rising stochastics and MACD which have helped to revive the uptrend.

This index has gained more than 1000 points in a week, but momentum still lies firmly with the buyers. Having cleared the early-March highs, the price now targets 12,950, 13,200 and then 13,600.

S&P 500 sails higher

The smooth uptrend continues for the S&P 500, leaving little for traders to do but look for dips.

Yesterday’s modest volatility saw the price dip below 3100 but then rebound, and we have already seen a higher high this morning. Higher lows and higher highs remain the order of the day, with no apparent sign that this trend will reverse.

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.