FTSE 100, DAX and S&P 500 edge lower
Indices have enjoyed strong gains of late but for the time being upward momentum has stalled.
FTSE 100
The FTSE 100 edged back yesterday, holding above 7000, as upward progress begins to fade. However, a full-reversal requires a drop back below 6980, so for now the view is a neutral one. A resumption of the move above 7060 would hand the initiative back to the buyers and open the way to 7150.
DAX
Some short-term weakness has crept in here as well, as the index drops back for a second day. A drop below 15,200 would be a more bearish development but for now the overall bullish view holds sway and points towards more upside in the near-term.
S&P 500
The S&P 500's gains of the past few sessions are intact but the upward move has stalled, although as with the other two, this is more of a pause before a move upwards, at least on current price action. Sellers have not been able to gain much traction here for the time being, so for now further gains look to be the order of the day, at least in the medium term.
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