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

Yesterday’s aimless session saw Europe give back some gains, but markets are looking perkier as the US comes back from its day off.

FTSE 100 edges higher

The FTSE 100 has moved off the 6950 area in early trading, and further gains will target 7025 and then 7110.

Further declines will head towards 6900, where the price bounced on Wednesday. Longer term, a move above 7200 would provide more reassurance that a bigger move higher is underway.

DAX aims to build on Wednesday bounce

While the price of the DAX has struggled to push on after Wednesday’s rally, dips over the past 24 hours have found support above 11,100.

Above 11,200, the price heads towards Wednesday’s high at 11,276, and above this it would create a new higher high. A bigger move targets 11,700 and then trendline resistance at 11,800. Rising trendline support comes in around 11,050, with a break below here pushing the index below a trendline that has held since late 2011.

S&P 500 returns to business

US markets return for a half day of trading following Thanksgiving, with the S&P 500 broadly where it was before Wednesday’s bounce.

The recent fall saw the index return to the 2630 area that held back in October, so if this remains as support, a bounce is possible. Intraday upside targets lie at 2670, and then 2690. Below 2600, 2594, 2553 and then 2532 act as possible support.

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