FTSE 100, DAX and S&P 500 all rally from overnight low

Indices dropped back overnight, but signs of some buying are evident as the new session gets underway.

FTSE 100 rebounds after weakness

While the FTSE 100 was unable to hold on to all the gains made yesterday, it has so for now avoided dropping below support to 5730. Further gains head towards 5850, and then on to 5900 and 5940, the latter being the high from mid-April.

If this latter level is breached then we have a higher high, confirming the current uptrend. Alternatively, bears need to break 5730, and then push below Tuesday’s low at 5625.

DAX remains in trading range

The DAX created a lower high yesterday at 10,600, but the price has once again begun to bottom out above 10,200, as it has done twice before this month.

A rebound targets 10,600, and then on to 10,800. Bears will want to see the price drop through 10,200 to suggest additional downside is in play.

S&P 500 edges up from overnight lows

The S&P 500 fell back overnight but for now has found support around 2760. Further gains head to 2850, and then to 2900.

Alternatively, a more bearish view would see the index below 2760, and then through key support at 2720.

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.