FTSE 100 climbs as Dax struggles to hold ground, while S&P 500 tiptoes higher
The FTSE is still rallying hard, but the Dax has suffered two days of losses. Meanwhile the quiet drift up in the S&P 500 goes on.
FTSE 100 recovers June peak
The FTSE 100 finds itself back at the 6515 level once again, the high from early June. A close above this level provides a more bullish view, and opens the path to gains that could carry the index to 6874 and the early March high. A reversal below 6450 would mark another attempt to push towards 6200 and potentially down towards 6050 and the rising 50-day SMA.
Dax looks to stabilise after losses
Two days of losses have carried the DAX back towards 13,200, and a close below this level would provide a more bearish view that may bring 12,954 and then 12,825 (the 50-day SMA) into view. Alternately, the price needs to move above 13,400 to re-establish the upward move.
S&P 500 edges up again
The drift higher goes on, with the S&P 500 still in a rising channel. At present a break lower seems an unlikely prospect, with a move below 3600 required to develop a more bearish near-term view. Without this, the current bullish trajectory continues.
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