FTSE 100, Dax and S&P 500 see modest selling
Indices have edged lower in early trading, continuing the mixed theme of the week.
FTSE 100 stalls after Thursday’s gains
Hopes of continued gains for the FTSE 100 have been dashed so far, as the breakout from the bullish wedge fails to make further progress. A reversal below 6700 is a bearish development and brings 6600 into view. A more bullish outlook would come with a move above 6815 that could then bring 6915 into view.
Dax stumbles below 14,000
Here too the mid-week move higher has stalled, bringing the resumption of the losses from Monday into view. 13,600 and then the 50-day SMA at 13,423 remain potential downside targets in the short-term.
S&P 500 edges lower
After holding all week near the highs, the S&P 500 price is seeing some weakness in the wake of the Biden stimulus announcement and ahead of bank earnings later today. Support earlier in the week came into play around 3775, so if this is lost then a move towards 3673 comes into view.
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