FTSE 100 breaks higher, while DAX continues rally and S&P 500 stalls for now

The FTSE 100 may finally be joining in the global rally, while the DAX is adding to its ongoing surge and the S&P 500 is holding steady after Tuesday’s drop.

FTSE 100 Source: Bloomberg

FTSE 100 finally looks to break 7300

The FTSE 100 has bounced between 7300 and 7200 over the past week, and this morning sees the index challenging 7300 once more.

A breakout above here would see the FTSE 100 join other markets in their September rally, targeting 7500 and higher. A drop back retests 7200, and below this, 7050 comes into play.

FTSE 100 chart Source: ProRealTime

FTSE 100 chart Source: ProRealTime

DAX drives higher yet again

It has been a strong and relentless uptrend here, as the DAX clambers towards 12,400 and shows little sign of stopping.

Fresh gains target 12,400 and then 12,600. Yesterday saw a dip below 12,200 find buyers, with a reversal back below 12,000 needed to provide a more bearish view.

DAX chart Source: ProRealTime

DAX chart Source: ProRealTime

S&P 500 uptrend still intact

Bullish momentum has faded to an extent for the S&P 500, with the price not pushing through 2985.

However, yesterday’s drop to 2960 found buyers, indicating that that there is still some upward pressure.

S&P 500 chart Source: ProRealTime

S&P 500 chart Source: ProRealTime


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