FTSE 100, Dax and S&P 500 rally after overnight weakness
Indices enjoyed a strong day yesterday, and are attempting to recover after some weakness late on Tuesday.
FTSE 100 pushes higher
The FTSE 100 index has recovered from its overnight weakness, retreating towards 6120 before resuming its move higher towards 6200. Above this a new higher high is created, and would mark a further reinforcement of the current bullish view. A reversal below 6100 would suggest some more short-term weakness.
Dax forms higher low
Here too the DAX recovery continues, with the price moving higher after a retreat overnight towards 12,800. Further gains target 13,050, the high from Tuesday’s session, with a longer-term target being 13,300. Alternately, a move below 12,700 would raise the prospect of some near-term weakness.
S&P 500 in rising trend channel
TheS&P 500 price is in a rising trend channel, with overnight weakness taking the price briefly below 3340 before a rebound that now targets 3380. This bullish view remains in place unless the price drops below 3330.
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