Levels to watch: FTSE, DAX and S&P 500

FTSE 100 looks likely to hit new highs, amid a widespread move higher for indices.

Source: Bloomberg

FTSE 100 could see 7188

After a week in which the bulls defied all attempts to halt the market’s progress, we are looking at an index at fresh all-time highs.

Any pullback could find support at 7188 and then 7130, with a daily close below this latter level being the only real sign that we have turned and are heading lower. Below this targets would be 7080 and then 7042. 

DAX eyes 11,929

Friday saw the index recover ground lost earlier in the week, and now we look to see if the index can move above 11,640, in which case we would look towards 11,780 and then 11,929.

As with the FTSE, it looks like bullish momentum will persist, with only a firm drop below 11,400 opening the way to 11,300 and 11,236. 

S&P 500 could see further gains

Friday’s peak was 2282, so we look to see if this can be broken today, with early indications looking as if more gains will be the result this week.

Downside levels to watch for support would be 2252, 2229 and then 2214 for the index.

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