FTSE 100, DAX and S&P 500 holding steady
Indices have fallen into a torpor ahead of the Fed meeting, with only the FTSE 100 making any noticeable progress.
FTSE 100
The FTSE 100 continues to tiptoe back towards the peak from mid-April, and so far the general bullish view persists. The bearish view has been cancelled out with the rebound from 6875, and this remains the case unless a reversal below 6850 develops.
DAX
Once again the DAX is quiescent, holding around 15,285 for another day. The upside case remains a push towards 15,500, and this holds sway unless we see a reversal below 15,100.
S&P 500
As FOMC day arrives the index sits close to a record high, with no sign of any bearish move developing. Today’s Fed meeting could provide a spark of volatility, perhaps opening the way to 3995 and the 50-day SMA.
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