Indices continue to make gains ahead of non-farm payrolls
European indices are seeing continued strength in early trading, while the S&P 500 sits at a new record ahead of the US jobs report.
FTSE 100
The FTSE 100 price is back at the 7170 zone that has marked the peak since early May, but with dips having been bought since May, a break higher still seems likely. The rebound yesterday from the 50-day simple moving average (SMA) at 7058 puts the buyers back in charge and leaves the next move as a break above resistance to clear 7200 and move to new one-year highs.
DAX
The DAX is advancing too, having spent the past two weeks struggling to establish a clear direction. Recent gains have faltered around 15,700, so a move above this would be needed to establish a new bullish move, and with daily stochastics turning higher it looks like momentum has shifted in favour of the buyers. This puts the record high at 15,806 into view, and further gains likely as a result.
S&P 500
While European markets have struggled to move higher, the S&P 500 has found the going easy, moving to new record highs almost each day this week. While potentially over-extended (around 2.3% from the current 50-day SMA), the price has yet to show much in the way of bearish price action, but with non-farm payrolls (NFPs) today and a holiday on Monday, some of the forward momentum may begin to wane. Nonetheless, for now the buyers are firmly in charge.
Seize your opportunity
Deal on the world’s stock indices today.
- Trade on rising or falling markets
- Get one-point spreads on the FTSE 100
- Unrivalled 24-hour pricing
See opportunity on an index?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on an index?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from one point on the FTSE 100
- Trade more 24-hour indices than any other provider
- Analyse and deal seamlessly on smart, fast charts
See opportunity on an index?
Don’t miss your chance. Log in to take your position.
Related articles
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
