Indices still on course for further gains, with DAX breaking higher towards 16,000
Stock markets continue to make headway, joined by a newly-resurgent DAX.
FTSE 100
A close above 7218 continues to elude the FTSE 100, but we have seen almost no downside momentum in recent sessions, suggesting that buyers continue to have the upper hand for now.
Any initial target in a move lower is 7088, although this is only likely to be short-term weakness, unless we see the price drop below 7000.
DAX
The DAX has finally broken out above June and July resistance, opening the way to new record highs and a potential capture of the 16,000 level.
This is a good reminder of how uptrends work: they can go through periods of consolidation but ultimately find a reason to break higher.
After almost two weeks of straight gains some weakness would not be surprising, but overall the bullish view remains intact.
S&P 500
The S&P 500's upward drift continues with no sign of a reversal, as the price sets yet more new record highs.
After breaking higher in early August, it seems like further upside will continue to play out.
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