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

The FTSE 100 is pushing on from yesterday’s breakout, and while the S&P 500 is at new records, the DAX is still stuck in a trading range. 

FTSE 100 registers new four-week highs

Yesterday saw the FTSE 100 push through the 7473 level, with the index breaking out to a one-month high.

There seems to be plenty of follow-through this morning, as the index moves back above 7500. Upside targets now look like  7533, 7553, and then 7589-7600. Support is possible at 7473, and then at 7450. 

DAX drifts sideways

While the FTSE 100 breaks higher and US markets clock up their routine all-time highs, the DAX is lagging. The trading range of the past month still prevails.

The index at present, is still stuck below the 13,200 area that has marked the limit of upward progress for weeks now. A close above 13,211, and ideally on through 13,242, is needed to clear the way for another run to the early November highs at 13,533. Meanwhile, support comes into view at 13,095, 12,954, and then 12,844. 

S&P 500 leaps higher once again

A push to new highs yesterday for the S&P 500 acts as another reminder, as if one were needed, that the rally here is not to be trifled with.

Above 2670 will put the index in new uncharted territory. Meanwhile, 2620 is the first place to look for support, and then on to 2604. 

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.