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

Indices have seen their bounce fizzle out, but the possibility of a rebound remains. 

FTSE 100 holds 7100

Those hoping for a bounce will have been disappointed, although for now the FTSE 100 is holding 7100, which at least is above Tuesday’s lows of 6919.

This gives us two support levels to work with. At the moment, 7195 and 7260 come into play as upside targets, although we are likely to see plenty of volatility whichever way it goes.

DAX tries to recover from another drop

It has been a volatile week for European markets too, including the DAXSo far this morning there seems little appetite to push the market higher, with 12,300 being the limit of gains so far.

Above this, 12,387 and then 12,678 are upside targets. Further declines would see 11,867 and 11,692 come into view as possible support.

S&P 500 finds it hard to bounce

The mid-week rally evaporated yesterday for S&P 500, but the sellers could not move the price back to the 2530 lows of Tuesday.

We may have a higher low at 2580, but the bulls will be more comfortable if and when they can push the price back above 2740.

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