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

The bounce in European indices has taken a knock, while the S&P 500 remains stuck in a range. 

Source: Bloomberg

FTSE 100 looks for support after trendline break

The FTSE 100 finished the day below trendline support, making a notable departure from the price action of recent weeks.

Possible near-term areas of support come in at 7729 and then 7685, followed by 7589.

DAX bounces from 12,800

This DAX too has lost the rising trendline that had been in place since the end of March.

However, it has bounced from 12,800, and a move above 12,954 would help restore a more bullish outlook. Further declines target 12,742 and then 12,663.

S&P 500 continues sideways movement

The consolidation goes on here for S&P 500, with dips down towards 2700 finding buyers and rallies up to 2740 hitting selling pressure.

A break high targets 2790, and a drop would likely head towards 2680 and then 2647.

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.