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.

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