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FTSE 100, Dax and S&P 500 look to recover from mid-week weakness

Indices have retraced some of the mid-week losses, holding on near recent highs despite a lack of any further upward

FTSE 100 stabilises after weakness

The FTSE 100 has found some support around 6300, helping to allay fears of a deeper retracement. If this continues to hold then another push towards 6450 may develop, the high from the beginning of the week, or alternately a drop below 6300 and then through 6250 would clear previous resistance and indicate a deeper fall towards the 200-day SMA at 6046.

Dax edges up from Thursday low

A modest recovery in DAX leaves the index right in the middle of the trading range of the past three weeks. We wait for a break above 13,200 or below 12,954 to provide a greater directional bias.

S&P 500 steady following drop

The small drop from the highs of the week has stopped for now, with the index steadying above 3560. A continued fall below 3500 would be a bearish short-term move, although unlikely to imperil the longer-term uptrend, while a recovery above 3600 signals a move towards the record highs of the past two weeks.

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