Indices’ rally to continue into another day
Indices on both sides of the Atlantic are still in strong form, as the bounce in the wake of Monday’s selloff enters its fourth day.
FTSE 100
Further gains seem likely here as the FTSE 100 looks to move on above 7000 and target 7200.
Having bounced from the low of the week it looks like further upside is on the way, with the bearish view out of the picture unless we see a reversal back below 6900.
DAX
Having recovered the 50-day simple moving average (SMA) of 15,567 and moved on above it, the DAX now targets 15,800 and new record highs.
The uptrend has reasserted itself strongly this week, and has cancelled out the nascent bearish view from Monday’s session.
S&P 500
New record highs for the S&P 500 seem likely after the bounce from earlier in the week, cancelling out the bearish outlook unless a reversal below 4260 takes place.
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