Levels to watch: FTSE 100, DAX and Dow

Indices have returned to their winning ways, with Europe helped by a drop in the euro. 

Source: Bloomberg

FTSE 100 holds on near highs

The FTSE 100 continues to hold above the 7705 level, with the all-time high of 7732 still the only resistance level left.

A deeper pullback targets 7600, and then 7550.

DAX targets 13,400

DAX dropped back yesterday, but a weakening euro and dip buyers have allowed it to recover lost ground.

Buyers have entered at the 13,350 area, with a push through the highs of Monday opening the way to 13,533. 

Dow presses ever higher

Yet more record highs have been seen here for Dow Jones, and we should expect this trend to continue.

As with the S&P 500, there has been little in the way of a pullback, and if one does materialise we have plenty of support, including 24,899, 24,545 and 24,038 to start with. 

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 IGA 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.