FTSE 100, DAX and S&P 500 mixed in early trading
Indices began the session with gains but have struggled to hold these early moves higher.
FTSE 100 continues to recover
The FTSE 100 bounced from 5900 last week and then held on to most of the gains, and then this morning has seen it move higher once again.
This has seen it clear trendline resistance from the late-July high, and further gains target 6192, the 50-day simple moving average (SMA). A longer-term bullish view still requires the price to clear 6300.
DAX continues cautious push higher
For the DAX, gains have been stifled by the 12,700 area, with pushes above this level running out of steam.
However, with the price back above the 50-day SMA (12,567) and also above trendline resistance from the late-July high at 13,300, together with a rising stochastic, the bullish view remains In place. A reversal below 12,400 is needed to negate this view.
S&P 500 heads back to previous record
The S&P 500 continues to target the February peak, and is enjoying a string of positive days as it pushes higher.
Short-term bearishness may be revived with a drop back below 3300, which would bring 3215 and then the 50-day SMA at 3180 into 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
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.