Levels to watch: FTSE 100, DAX and Dow

It has been a tough session for the FTSE 100, which has fallen to two-week lows, while the Dow is still seemingly on course for new all-time highs.

FTSE 100 routed in early trading

A slew of ex-dividends and a sharp drop for Sainsbury’s shares have sent the FTSE 100 plunging in early trading, hitting a two-week low.

This has broken the gentle push higher seen over the past two weeks, and could be the start of a push towards 7360 or 7280 and the 50-day simple moving average (SMA). A rebound would target resistance around 7460.

DAX drops back but remains bullish

The DAX is only slightly lower, having edged back from yesterday’s fresh high for the year and the successful push above trendline resistance.

Further declines head towards 12,200, and then down to 12,000 and 11,800. A rebound above 12,350 would then target 12,410 and then 12,600.

Dow still targeting new records

The next targets in any push higher are 26,782 and 26,951, with the latter being the record high from last year. The Dow has fallen below rising trendline support from the 27 March lows, which may signal further bearish moves.

A drop below 26,469 would mark further losses towards 26,300.

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 30
  • The only provider to offer 24-hour pricing

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
Sell
Buy
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Sell
Buy
Updated
Change

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

Sell
Buy
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
China 300
-
-
-
-

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.