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

Yesterday’s session saw the sellers reassert control, with gains from earlier in the week being given back.

Trader
Source: Bloomberg

FTSE 100

A reversal appears to be taking place, the FTSE 100 having failed to hold 6900.

Further declines target 6700, and then down to 6640. Rising trendline support is being tested around 6800, but a break of this would mark the end of the current attempt at a rebound.

DAX

The DAX looks poised to rollover and test the lows of the week around 10,584, having failed to recover 11,000.

The overall tone remains bearish, with the index likely to test these recent lows unless we see a rebound and close back above 11,000.

S&P 500

The rebound from earlier in the week is now gone, the S&P 500 having failed to hold 2650.

Now we look to see if it can hold 2600. Below this, 2594, 2553 and 2532 come into play.

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.

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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.