FTSE 100, Dax and S&P 500 all climbing once again
Indices have opened the week with more gains, continuing their post-election rally.
FTSE 100 heads back to 6000
The FTSE 100 has recovered all the ground lost since mid-October, rallying back towards the 6000 level. From here previous lower highs at 6035, 6115 and 6285 become targets to the upside, if the index begins to reverse the summer downtrend. A reversal below the 50-day SMA at 5890 would suggest that downtrend has reasserted itself.
Dax still climbing
This rally in DAX shows no sign of slowing down, and having recovered 12,500 has helped to dispel the negative view created by the October selloff. Fresh gains head towards 13,200, and then 13,400. A reversal below 12,400 could cancel out this view.
S&P 500 surges in early trading
An overnight gap higher has carried the S&P 500 price above the October high, and leaves it targeting the record peak from the beginning of September. Having moved so far, so fast, some consolidation might develop, but overall a move to new record highs seems highly likely.
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