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

The FTSE 100 is pushing on from yesterday’s breakout, and while the S&P 500 is at new records, the DAX is still stuck in a trading range. 

FTSE 100 registers new four-week highs

Yesterday saw the FTSE 100 push through the 7473 level, with the index breaking out to a one-month high.

There seems to be plenty of follow-through this morning, as the index moves back above 7500. Upside targets now look like  7533, 7553, and then 7589-7600. Support is possible at 7473, and then at 7450. 

DAX drifts sideways

While the FTSE 100 breaks higher and US markets clock up their routine all-time highs, the DAX is lagging. The trading range of the past month still prevails.

The index at present, is still stuck below the 13,200 area that has marked the limit of upward progress for weeks now. A close above 13,211, and ideally on through 13,242, is needed to clear the way for another run to the early November highs at 13,533. Meanwhile, support comes into view at 13,095, 12,954, and then 12,844. 

S&P 500 leaps higher once again

A push to new highs yesterday for the S&P 500 acts as another reminder, as if one were needed, that the rally here is not to be trifled with.

Above 2670 will put the index in new uncharted territory. Meanwhile, 2620 is the first place to look for support, and then on to 2604. 

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This information has been prepared by IG, a trading name of IG Markets Limited and IG Markets South Africa 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. International accounts are offered by IG Markets Limited in the UK (FCA Number 195355), a juristic representative of IG Markets South Africa Limited (FSP No 41393). South African residents are required to obtain the necessary tax clearance certificates in line with their foreign investment allowance and may not use credit or debit cards to fund their international account.

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