Indices mixed in early trading as Dow struggles while FTSE 100 and DAX look to move higher
Dow futures are under pressure but the FTSE 100 and DAX are edging higher after a shaky start.
FTSE 100
It has been frustrating for both buyers and sellers here, since the FTSE 100 is unable to make much headway above 7100, but is also disinclined to move below 7040 to open the way to a retracement. Arguably upward momentum just about has the upper hand, but it has been quite weak and risks giving way to a turn lower if a firm push above 7100 does not develop soon.
DAX
The DAX touched a new record high yesterday, with futures edging back from this over subsequent hours. Overall the upward move continues to hold sway, with higher lows over the past two weeks maintaining the uptrend.
Dow
It continues to be a choppy run higher for the Dow, rallying and then falling back again, as we have seen in the move to 34,800 and then back down. Still, this upward move continues to hold sway with no desire at present to break the run of higher highs and higher lows. A more bearish view needs a drop back below 34,200.
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