FTSE 100, DAX and S&P 500 all advancing
Indices have continued their strong run, making further gains to follow on from the good start to the month.
FTSE 100 hits one-year high
The FTSE 100 has staged a break above the peak from last week, and now sits at its highest level in over a year. Further gains target 7230, and from there 7670 comes into view. The ongoing uptrend has been reinforced by this latest higher high, and so far there is little sign of any reversal currently in play.
DAX revives its upward move
After some mixed trading this week the index is finally moving higher, back towards last week’s record. Thursday’s recovery handed the initiative back to the buyers and shuts out the sellers, who conspicuously failed to capitalise on the brief weakness on Wednesday, with the lack of movement below 15,150 indicating that sellers had run out of momentum.
S&P 500 makes new high
A new record high yesterday leaves the S&P 500 firmly in its uptrend. Further gains will take it on towards 4200 and a new peak, and while there is a yawning gap between the price and the 50-day SMA at 3956, so far the sellers are unable to muster up the required bearish momentum and price action.
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