FTSE 100 on track for yet another record high while Dow and S&P 500 recover
Outlook on FTSE 100, Dow and S&P 500 ahead of US non-farm payrolls.
FTSE 100 hits yet another record high
The FTSE 100 is on track to make yet another record high above the 8,200 mark. Further up lies the 8,301 level which is where the 161.8% Fibonacci extension of the March-to-June 2020 advance, projected higher from the October 2020 low, can be found.
Support is seen along the April-to-May support line at 8,160 and at Wednesday’s 8,096 low. Further down lie the early-to-mid-April highs and last Wednesday’s low at 8,046 to 8,003.
Dow recovers ahead of non-farm payrolls
The Dow Jones Industrial Average managed to find support at its 37,705 current May low and is attacking last week’s high at 38,595 ahead of US non-farm payrolls. Further up meanders the 55-day simple moving average (SMA) at 38,735 and sits the 10 April high at 39,029.
Slips below Monday’s high at 38,408 may find support along the breached April-to-May downtrend line at 38,164.
S&P 500 regains lost ground post Apple earnings
The S&P 500 seems to have found support at this week’s low at 5,009 and has been boosted by Apple earnings beat with it heading back up towards last week’s high, the 55-day simple moving average (SMA) and April-to-May downtrend line at 5,120 to 5,138 ahead of Friday’s NFP data release.
Minor support lies around the 5,040 mark where the mid-April low and the 22 April high were made.
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