Levels to watch: FTSE 100, DAX and S&P 500
While markets are struggling in early trading, the overall move higher from last week remains intact.
FTSE 100 finds the strength to rally
FTSE 100 had a good week, rallying strongly off the lows and finishing the week on a strong note.
The price has enjoyed a sharp bounce, and further gains above 7370 head towards 7420, 7460 and then on to 7525. A move back below 7300 begins to suggest that a fresh downward move is on the cards.
DAX looks to build on strong week
A weaker euro and renewed risk appetite allowed DAX to shoot higher, breezing through recent lower highs seen over the past week.
A rally back above 12,300 would further reinforce the bullish view and leave the index on course to target the 12,450 highs from the beginning of the month.
S&P 500 rally falters
While last week did see a rally off the lows, S&P 500 was unable to hold the 2880/2890 highs from the latter part of the week.
A drop to 2850 found buyers, creating a fresh higher low, so now the index needs to push on back above 2890 to create a new higher high. A move below 2850 would impair the bullish view and bring 2810 and 2800 into view as possible 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.
Take a position on indices
Deal on the world’s major stock indices today.
- Trade the lowest Wall Street spreads on the market
- 1-point spread on the FTSE 100 and Germany 30
- The only provider to offer 24-hour pricing
Live prices on most popular markets