Levels to watch: FTSE 100 and S&P 500

The FTSE 100 has finally done it, moving above 7600. Meanwhile, in the US, the S&P 500’s trend remains intact. 

London Stock Exchange
Source: Bloomberg

FTSE 100 at new highs

The FTSE 100 managed to reclaim the 7600 level yesterday, indeed touching a new all-time high, and is recovering from some minor overnight weakness.

The index has continued to register new higher lows and higher highs, so we look for further gains into the new year. Any pullback that holds above 7280 remains a buying opportunity. 

S&P 500 prepares to move higher

There has been little slowdown in the upward momentum of the past year or more for S&P 500.

The index only has 2694 before it reaches new all-time highs, and short-term support is found at 2676, then 2665 and 2658.

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