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Indices mixed as US earnings season gets underway


ArvinIG

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FTSE 100

Gains have stalled below 7140, with the FTSE 100 unable to make any real forward progress.

A move above 7180 is needed to spark a bigger move to the upside, while sellers will need to drive the price below 7030 to suggest a deeper retracement is at hand.

FTSE_140721.png
Source: ProRealTime

DAX

The index moved up to a new record high yesterday, and has edged back down slightly since. However, a longer-term move higher still continues to elude the index.

Dips towards 15,500 have found buyers of late, with 15,300 as firm support during two recent steep drops.

DAX_140721.png
Source: ProRealTime

S&P 500

A new record high for the S&P 500 yesterday has been followed up by some short-term weakness, but the overall move higher is still firmly intact.

Trendline support from the mid-June drop comes into play near 4340, and then below this 4290 is a possible area of support.

SPX_140721.png
Source: ProRealTime

Chris Beauchamp | Chief Market Analyst, London 
Wednesday 14 July 2021 

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