S&P 500 edges up but FTSE 100 more mixed
While US markets have held their ground ahead of Jerome Powell’s Jackson Hole speech, European markets have come under some pressure.
FTSE 100
Gains for the FTSE 100 have stalled all week, with the index unable to find the fresh momentum to push on past 7150.
We have yet to see a significant break to the downside, but a move below 7037 would signal a more bearish environment in the short-term.
DAX
Most of last week's move higher has been reversed, with the price now nearing the 50-day simple moving average (SMA) at 15,673 once again.
Short-term resistance from the August peak held back progress this week. A break above 15,886 would be needed to provide a more bullish short-term view.
S&P 500
The S&P 500 edged lower yesterday after touching 4500 on Wednesday, but a small recovery overnight has lifted the price off the lows.
A renewed move higher targets 4500 and then into new record high territory. Post-Powell speech (3pm) volatility could see the price head back towards 4392 support.
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