Indices make headway as new week begins
Stock markets ended the week with solid gains and have begun the new week with further moves higher.
FTSE 100
After a see-saw week, the FTSE 100 has found renewed upward momentum, and is making further headway as it looks to target 7200 and then 7235.
After bouncing from the 200-day simple moving average (SMA) of 6906 last week, the price is back in bullish mode with a reversal below 7000 needed to suggest the sellers have regained control.
DAX
This index reclaimed its losses last week and is now looking to push on above the 50-day SMA (15,696).
A move above this eluded it last week, but the overall bullish atmosphere continues to provide support for expectations of higher prices. Shallow trendline resistance comes into play around 15,850.
S&P 500
After retreating in the first half of the week the price staged an impressive rebound, and has begun the new week with a gap higher and a move towards 4500.
From here the September record high is back in view once again at 4550.
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