Indices edging up but with little enthusiasm
After the fleeting gains of Tuesday’s session, indices have struggled to make further headway.
FTSE 100
The FTSE 100 continues to be one of the more consistent performers this week, making forward progress at a time when others have struggled. It has yet to firmly surpass Tuesday’s opening highs but the direction of travel is still to the upside and leaves 7167 in focus. Sellers will need to see a reversal back below 7000 to suggest a change in short-term trend is at hand.
DAX
Here, too, a move through Tuesday’s peak has yet to develop, although the price continues to head in that direction. As with the FTSE 100, sellers have not been able to reassert control as yet, and will need a close back below 15,400 to put a more bearish spin on the short-term outlook.
S&P 500
There has not been much enthusiasm regarding a move to new highs for the S&P 500, the lack of macro data leaving traders bereft. A solid move above 4240 continues to elude us for the time being, but as with the other two indices the sellers are not able to stamp their will on the index as yet either.
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