Levels to watch: FTSE 100, DAX and S&P 500

While US markets remain robust, the picture for European markets is less encouraging.

German Stock Exchange
Source: Bloomberg

FTSE 100 falters at 7600

The FTSE 100 has failed to make much headway over the past few days, with moves above 7600 finding selling pressure.

For now the 7500 level continues to hold, but a daily close below this opens the way to 7340. Above 7620, the 7700 and 7800 levels are possible upside targets.

DAX rally stifled at 12,400

Gains over the past few days have been limited by the 12,400 level, with the DAX unable to close above here.

A close above 12,450 would open the way to 12,650. A close below 12,300 suggests a broader retracement towards 12,100 support.

S&P 500 remains near highs

Gains have continued here, although the S&P 500 has yet to reach a new all-time intraday high.

Further losses will find support around 2840 and then down to 2800.

IGA, may distribute information/research produced by its respective foreign marketing partners 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.

This information/research prepared by IGA or IG Group is intended for general circulation. 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 or 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. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

See important Research Disclaimer.

Find articles by writer