Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Levels to watch: FTSE, DAX and S&P 500

European markets have rallied off their lows from earlier this week, but the S&P 500 remains stuck in a narrow range just below 2300.

FTSE 100 chart
Source: Bloomberg

FTSE 100 saved by fresh buying 

Signs of potential deterioration in the index yesterday were swiftly followed by fresh buying. Now the first target on the upside is 7220, where Tuesday’s gains stalled, with 7276 and then 7350 the next levels to watch.

If gains falter today, 7150, and 7100 are the areas to look for support. A close below 7100 could signal that a new move lower has begun.

DAX fighting off the lows

European indices have clambered off the lows of the week, with the index holding above the 11,400 area once more. However, it needs to push firmly above 11,700 to indicate a bottom is in place.

Above 11,700 the next target is 11,900, while below 11,400 we could see a push back to 11,272 or even to 11,030, the 100-day simple moving average (SMA).

S&P 500 with the potential for all-time high

Rallies towards 2300 this week have been beaten back, while, so far the 2288 area continues to provide support.

A break above the former would suggest a push to 2304 and the all-time high, and then higher. If 2288 is lost, 2267 is the next area to watch for short-term support. 

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.

Find articles by writer