FTSE 100, Dax and S&P 500 move higher
Indices have continued their strong run in early trading.
FTSE 100 attempts to rejoin global rally
The FTSE 100 rallied off the lows on Friday, but compared to the likes of the Dax and S&P 500 still has much further to go to recover recent lost ground. However, having stabilised above 6550, the price can now contemplate a move above the 50-day SMA (6584), which would help to build a more bullish near-term view. The recovery from 6300 looks to have formed a higher low, with a drop below 6400 needed to put this view in jeopardy.
DAX still climbing
The DAX has set a new record high this morning, as the rebound from the beginning of the month continues. Bullish momentum remains strong, with further gains looking likely. So far, the price action does not really provide any foundation for a bearish view – such a view requires, at least, a drop back below 14,000.
S&P 500 makes headway
The S&P 500 continues to march higher, having gained for over a week now since it moved back above the 50-day SMA (3751). Further moves higher will reach new record highs, and as with the Dax there is little sign of any near-term weakness at present.
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