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

Another week of success for the bulls sees the DAX push to a new all-time high, there’s also more gains for the S&P 500 and the FTSE 100.

Source: Bloomberg

FTSE 100 surges past 7500

Fresh gains yesterday took FTSE 100 above 7500, with the push higher coming this morning. The downtrend from the June highs has now been broken with the 7533, the 7553 and then the all-time high at 7600 are left as upside targets.

A pullback towards 7450 would be a buying opportunity, and even a severe retracement to 7400 does not necessarily diminish the bullish outlook.

DAX knocks on the door of 13,000

It has taken almost four months, but DAX has recouped all of its summer losses and moved to new all-time highs. Dips towards 12,600 remain buying opportunities. 

S&P 500 moves ever higher

There seems little stopping the bulls on S&P 500, any pullback towards 2500 should see fresh upside momentum enter. Oversold readings on momentum indicators will provide useful entry points. 

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