Levels to watch: FTSE 100, DAX and S&P 500

Equities remain unsteady ahead of the Fed decision, as the bounce from Monday’s lows fizzles out. 

FTSE 100 rebound peters out

The rebound yesterday has not lasted long, and has not recovered much lost ground for the FTSE 100.

A turn lower back below 7061 now suggests that 7025 will be tested. Below this, 6978 and then 6919 come into view as possible support. A move back above 7150 is needed to restore a semblance of bullishness.

DAX turns lower

Here the bounce from Monday’s lows was more substantial for the DAX, but now it appears to be turning lower once again.

Further declines will target 12,115, 12,051 and then 11,908.

S&P 500 rally stalls

The S&P 500's rally from the lows has stalled at 2730. Further falls will target 2682, 2647, and then 2628.

For the time being, the sequence of higher lows is intact, but a drop through Monday’s low at 2693 will change this. 

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