FTSE 100, Dax and Dow aim to recover Monday’s losses
Monday’s brief weakness is ebbing away already, with indices looking set to move higher again.
FTSE 100 edges off Monday lows
The FTSE 100 price dropped back slightly yesterday, but as yet has shown no desire to move back above 6900 to indicate a new move to the upside. Further declines continue to target rising trendline support from mid-December, which would point towards a bounce nearer to 6650.
Dax bounces from 13,800
Even yesterday’s small dip found buyers, helping the DAX to hold near 14,000. As noted yesterday, continued losses target trendline support from mid-December, and then below this 13,600. A move above Thursday’s peak at 14,134 puts the index in new record high territory.
Dow still close to record highs
The Dow edged back from last week’s record high but overall the bounce is firmly in place. Expectations of a bigger decline continue to be thwarted, and arguably this will remain the case until we see a drop below short-term trendline support from mid-December, along with a move below 30,500.
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