Indices suffer early losses
Stock markets have come under pressure, with the FTSE 100 and Dax losing ground and US futures pointing to a weaker open.
FTSE 100 drops back towards recent lows
The FTSE 100 has broken sharply lower as news hits bank stocks and drags the index down with them. Having created a lower high at 6115 last week the price now looks set to test the late August low at 5750. Further declines below 5727 will test 5650, where the index found support in late April and early May.
Dax back below 50-day SMA
The Dax price has dropped below the 50-day SMA for the first time in two weeks, and having seen upward momentum stall at 13,300 the price looks to be on a more severe downward path. Further declines target 12,600, or down towards 12,400.
S&P 500 turns lower
Yet again hopes of S&P 500 recovery have been dashed, as the index sheds ground and moves towards 3250. Below this 3215 comes into view, while we wait for a rebound above the 50-day SMA (3352) to provide a more bullish near-term view.
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