FTSE 100 and DAX look to break higher while S&P 500 holds steady
Indices have rallied off their Wednesday lows, with the FTSE 100 in particular back to crucial resistance.
FTSE 100 back at key resistance
The FTSE 100 has confounded the bears that may have expected further declines after Tuesday’s drop, but instead saw a two-day rally of over 100 points.
A close above 7380 still eludes the bulls however, so they need to take advantage of bullish momentum to close above this level to ignite a move towards the summer highs. A failure to push on above this level would risk handing the initiative back to the bears, assuming the index breaks back below 7270 and rising trendline support from the late August low.
DAX still on the up from mid-week low
The recovery from Wednesday’s low continues here for the DAX.
Continued gains target 12,500, and then a break above this peak would open the way to 12,600 and the July peak at 12,666. The bearish view requires a substantial reversal back below 12,100 and the 100-day simple moving average (SMA) to become relevant once again.
S&P 500 hold steady after recent losses
The S&P 500 continues to see stabilisation around 2980 - the price bounced from Wednesday’s low around 2960, but upward momentum since then has been lacking.
However for now the view is more bullish than bearish, if price action continues to hold above 2960. Further gains target 3000 and then the 3020-3030 highs of the past few months. A move below 2940 suggests more near-term weakness.
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.
