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

A quiet open so far, but the stronger end to last week has seen indices once again move off their lows. 

Source: Bloomberg

FTSE 100 stays off the lows

Friday’s session saw the FTSE 100's pattern of the past week maintained, with the lows of the session being bought.

We have yet to see a new higher high after the midweek push to 7450, but so long as the price holds above the 7360 lows of last week it seems prudent to expect the rally to continue.

DAX nudges higher

A series of higher lows remains in place for DAX, although the index has yet to create a new higher high.

Further progress to the upside was prevented by 13,200 last week, so a move above here is needed to open the way to the early November all-time highs. The downside targets to look out for are 12,954 and then 12,844. 

S&P 500 looks set for fresh records

A new record high for S&P 500 at the end of last week, confirms that US markets remain robust.

Strong seasonality for both the end of November and into December supports the idea that more gains are on the way. Support is possible around 2588, and then 2583. 

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