FTSE 100, Dax and S&P 500 all fall back
Indices were in full bearish mode yesterday, marking a complete turnaround from the strength seen on Wednesday.
FTSE 100’s outlook darkens
Thursday’s FTSE 100 reversal negated the expectation of further upside that had been generated by Wednesday’s bounce, and instead the index finds itself holding at the lows of the past week at 6560. If this holds then another bounce could develop, alternately further declines being the 6480 zone into view from the beginning of the month, and then on down towards 6300.
DAX in full retreat
The sharp drop yesterday puts the DAX price back on course for further declines, with 13,600 and then 13,250 in view now that hopes of a recovery have been dashed for now. Declining daily stochastics and MACD reinforce the bearish view, and suggest that a bottom is not yet in place. Bulls will want to see the price back above the 50-day SMA (13.839) in order to begin reviving the expectation of further upside.
S&P 500 reverses course
The S&P 500 drop on Thursday wiped out Wednesday’s bounce and puts the price back on course to breach the 50-day SMA (38156), reinforced by declining MACD and stochastics on the daily chart. It is still holding above Wednesday’s low at 3807, but once this is broken then a drop towards 3700 and the late January low, or further to the 100-day SMA at 3679 could come into view.
Seize your opportunity
Deal on the world’s stock indices today.
- Trade on rising or falling markets
- Get one-point spreads on the FTSE 100
- Unrivalled 24-hour pricing
See opportunity on an index?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on an index?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from one point on the FTSE 100
- Trade more 24-hour indices than any other provider
- Analyse and deal seamlessly on smart, fast charts
See opportunity on an index?
Don’t miss your chance. Log in to take your position.
Related articles
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
