Indices steady but unable to move higher
Indices have held their ground this week but aside from the S&P 500 have struggled to make much upward progress.
FTSE 100
It has been a mixed week for the FTSE 100, with the hopes on Monday and Tuesday for a break higher dashed, as a move above 7070 continues to elude it. However, sellers have also been frustrated since dips to 7000 have found buyers. This leaves the bullish view in place, and suggests that we could still see a push higher in coming sessions.
DAX
After declining mid-week, the index found buyers yesterday that saw it bounce slightly from 15,370. Further gains target 15,600, while the short-term bearish view would need to see Thursday’s move reversed to open the path to more downside.
S&P 500
A revived move higher for the S&P 500 on Thursday puts the price back on course to hit 4240, with the bullish view still in charge even with the lack of movement this week.
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