FTSE 100, DAX and S&P 500 in strong form after bullish week
Despite some early weakness, the overall impression given by indices is that they are prepared to push higher.
FTSE 100 recovers from dip, looks to close above 7300
Unlike other indices, the FTSE 100 was not able to stage a convincing breakout last week. However, it recovered from a dip towards 7250 at the end of last week, creating a higher low and holding rising trendline support from the 26 August low.
A daily close above 7300 would be the signal that the index has joined in the global risk move, with a rally above last week’s peak at 7350 cementing this view.
DAX aiming for 12,410
It has been a good few weeks for European equities, which have surged despite ongoing signs of economic weakness in the eurozone, and particularly in Germany for the DAX.
The index breezed through the top of the August range, and then on through the 50- and 100-day moving averages (MAs). The next target is 12,410, and then on to 12,600.
Will S&P 500 ascend to highs of late July?
Last week finally saw the S&P 500 break out of its August range, with the bull market reasserting itself.
The index is now within easy distance of the previous record highs of late July at 3030. Pullbacks towards 2940 could find support at the rising trendline from the 26 August low.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Seize your opportunity
Deal on the world’s stock indices today.
- Trade on rising or falling markets
- Get one-point spreads on the FTSE 100
- Unrivalled 24-hour pricing
See opportunity on an index?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on an index?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from one point on the FTSE 100
- Trade more 24-hour indices than any other provider
- Analyse and deal seamlessly on smart, fast charts
See opportunity on an index?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
