Levels to watch: FTSE 100, DAX and S&P 500
Yesterday’s weakness has been shrugged off, with a steady recovery so far in indices.
FTSE 100 mixed but holding steady
A choppy week has seen the FTSE 100 make little upward progress, but dips towards 7080 have found buyers.
If we can see a move above 7180, and above trendline resistance around 7160, then 7250 comes back into view. A bearish move requires a drop back below 7080 and then through 7040.
DAX holds higher low
While the DAX was knocked back yesterday, it has managed to hold 11,470 overnight, creating a possible higher low.
A fresh push higher targets 11,640, and then on to 11,683. A decline below 11,470 would bring 11,400 into view.
S&P 500 continues to gain
The S&P 500’s different make-up means it has not been heavily affected by the fall in Boeing stock, and as a result the index has held its ground all week and may now be pushing higher.
A close above 2820 opens the way to the all-time highs around 2940. Below 2780, the price ill-risks a deeper retracement towards 2720 and then 2680.
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
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.