FTSE 100, DAX and S&P 500 mixed in early trading

Indices rallied overnight, but have seen some selling as the European cash session gets underway.

FTSE 100 still under pressure

The week’s gains suffered a sharp reverse on Friday for the FTSE 100, as the price dropped back from 5800. It gapped down overnight, and so far in the cash session we are seeing further losses.

A bounce needs to clear 5600 and then move on above 5800 to revive the upward move, while a continued failure to hold intraday rallies, such as we have already seen this morning, would signal that more losses are on the way. This view would be reinforced by a drop below 5200.

DAX fights to hold recent gains

While the DAX was able to bounce from its opening gap down overnight, the gains are already being given back. The price hit 9800, and then fell, creating a lower high after last week’s peak around 10,000.

A reversal below 9200, previously resistance on the way up last week, would be a bearish development and target the zone of support established in mid-March around 8100.

S&P 500 falters after overnight surge

The S&P 500 has been unable to hold on to some of its recent gains above 2500, and as with the other two indices, the price has begun to fall in early trading today.

A drop back below 2400 would be a notably bearish development, since the price managed to hold this area in the middle of last week, and would then bring 2200 back into view. Alternatively, if it can hold above this level then some more buying pressure may develop, while a move above 2600 targets 2650 and bolsters the more bullish view.

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

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


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.