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

The relaxation of trade war tensions has allowed the indices to start the week on a positive note.

FTSE 100 breaks new ground

The FTSE 100 gapped higher, and has begun the week at new all-time highs as the parabolic move higher continues.

Pullbacks towards 7723 should find buying pressure, and even a dip towards 7680 and 7630 may still simply see new buyers emerge.

Nasdaq 100 aims to build bullish momentum

The Nasdaq 100 has moved sideways since hitting 7000 a week ago, but has continued to hold the 6850 area of support.

If this continues to hold, then a move back to 7000 and 7033 is possible, and from here on towards the all-time high at 7186. Below 6850, 6770 and 6640 are areas of possible support.

S&P 500 gaps higher

News of possible détente in the trade war between the US and China caused US markets to gap higher, with the S&P 500 recovering some of the ground lost towards the end of last week.

Further gains will target 2740, the peak from mid-May, and from here on toward 2760, 2790, and 2803.

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