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FTSE 100 and DAX recover as S&P 500 edges back from record peak

European markets fell hard yesterday but have edged up in early trading. Meanwhile, the S&P 500 continues to drift away from a recent record.

BG_ftse_100_ukx_indices_098098.jpgSource: Bloomberg
 
Chris Beauchamp | Chief Market Analyst, London | Publication date: Friday 16 July 2021. IG

FTSE 100

Two days of sharp losses have carried the price back below the 50-day simple moving average (SMA) for the first time in a week.

Gains have stalled at 7170 and the FTSE 100 finds itself near the area of support at 6990. Repeated dips into this area have found buyers, so bulls will be hoping that the same trick can be repeated again.

A move below 6940 would negate this outlook and suggest a deeper retracement.

FTSE_160721.pngSource: ProRealTime

DAX

A break higher continues to elude the index, which has fallen back from the record high it briefly touched this week.

One day of losses does not mean a big correction is upon us, however; for that we would need a drop below 15,250. At present, any move towards that level would merely test the lower bound of the recent trading range.

DAX_160721.pngSource: ProRealTime

S&P 500

The price continues to edge back from Tuesday’s record high, but losses are limited. A bigger drop targets the 50-day SMA at 4242, with some potential support at 4300 first.

SPX_160721.pngSource: ProRealTime

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Indices still on the back foot after recent losses

Stock markets are struggling as a new week gets underway, with European markets in the red in early trading.

BG_ftse_100_ukx_index_indices_stocks_lonSource: Bloomberg
Chris Beauchamp | Chief Market Analyst, London | Publication date: Monday 19 July 2021 
 

FTSE 100

Friday’s decline has resumed today, with the FTSE 100 at its lowest level since mid-May.

After stalling below 7200 since mid-June there is now a full-blown retracement underway. The first area of support to watch is 6875, a region crucial in April and May. Below this 6600 could potentially come into play.

Dip buyers will want to see a recovery above 7000 to establish a higher low.

FTSE_190721.pngSource: ProRealTime

DAX

Three days of notable losses still leave the DAX heading towards the 15,278 lower bound of the recent trading range. A break below this brings 15,000 into view, with dips just below this around 14,950 finding buyers back in April.

As yet the buyers do not appear to have any ability to hold back this market from further declines.

DAX_190721.pngSource: ProRealTime

S&P 500

The S&P 500 has gapped lower and is looking to push back towards the 50-day simple moving average (SMA), currently at 4244.

Since late January pullbacks have either found support at the moving average or have briefly pushed below it before rebounding. Buyers will be watching to see if the same thing occurs this time.

SPX_190721.pngSource: ProRealTime
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FTSE 100, DAX and Dow regaining ground after sharp selloff

FTSE, DAX, and Dow are back on a more positive footing after a sharp decline yesterday. However, risks remain after breakdown below key support.

BG_ftse_100_ukx_indices_098098.jpgSource: Bloomberg
 
Joshua Mahony | Senior Market Analyst, London | Publication date: Tuesday 20 July 2021 
 

FTSE 100 rebounds from key support

The FTSE 100 saw dramatic losses yesterday, with the index falling to a three-month low in the process.

However, we are currently seeing a rebound from the key 6811 region, which represents both the March peak and May low. Despite this, the recent break below 6946 does provide a warning sign that we could see further weakness despite this current rebound.

As such, while we could see further short-term upside, a break through 7151 would be required to bring about a more reliable bullish outlook. Until then, this current rebound could falter as we move towards horizontal (69.46) and Fibonacci (7020-7070) resistance.

UKX-4-hours20721.pngSource: ProRealTime

DAX rebounds from Fibonacci support

The DAX has similarly experienced a bout of selling of late, with the index hitting a two-month low yesterday.

However, that selloff has taken us back into the 76.4% Fibonacci support level which held up as new support. Much like the FTSE, the subsequent rebound has now taken us back into the previous breakdown level (15304).

This will be a key line in the sand for us to break through if the index is going to continue its ascent. A break up through that level would signal a potential protracted move higher towards the 15522-15634 deep Fibonacci zone.

DAX-4-hours20721.pngSource: ProRealTime

Dow Jones on the rise after sharp slump into Fibonacci support

The Dow fell back below the 34113 support level yesterday, with price retracing into the wider 61.8% threshold at 33838.

With a clear long-term uptrend still in play, this latest pullback looks likely to resolve with a move higher unless we see a break below the June low of 33060. As such, there is a good chance we could see the index bottom out here.

However, we should also be aware of the risk that price falls back towards the 76.4% Fibonacci support at 33540. For now, it looks likely we will see further upside to retrace more of the ground lost since Friday’s peak of 35093.

DJI-4-hours20721.pngSource: ProRealTime
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Indices look to continue Tuesday’s rebound

After the quick recovery on Tuesday, buyers are looking to press their advantage and make further headway.

BG_ftse_100_ukx_index_indices_stocks_lonSource: Bloomberg
 
Chris Beauchamp | Chief Market Analyst, London | Publication date: Wednesday 21 July 2021 

FTSE 100

The FTSE 100 has rallied from the Monday lows, and has made further gains in early trading. Gains now target 7040, and then on to the 50-day simple moving average (SMA) at 7069.

Buyers stepped in to defend 6800, providing a low for now, and while this remains intact a move higher, accompanied by stochastic and moving average convergence divergence (MACD) crossovers, seems likely. A recovery above 6946 solidifies the bullish view.

FTSE_210721.pngSource: ProRealTime

DAX

Gains are more muted here, with the price yet to rally back above 15,280 and move back into the zone that prevailed in June. Above 15,280 the price heads onwards to 15,800.

Sellers will be looking for a reversal back below 15,100 and then on to sub-15,000 in order to open the way to a deeper retracement.

DAX_210721.pngSource: ProRealTime

S&P 500

Traders will be asking if that was it for the S&P 500 in terms of the July selloff, after a Tuesday rebound that saw Monday’s losses recovered. This now puts the 4395 peak in sight.

Any more bearish view requires a reversal back below the 50-day SMA at 4252.

SPX_210721.pngSource: ProRealTime

 
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Indices still looking for further gains after recovery

Wednesday’s rally solidified the bounce seen on Tuesday, and overall further gains are expected.

BG_ftse_100_ukx_indices_098098.jpgSource: Bloomberg
Chris Beauchamp | Chief Market Analyst, London | Publication date: Thursday 22 July 2021 
 

FTSE 100

The FTSE 100 has reclaimed all its losses from Monday and is still looking to make further headway.

The bearish view is now firmly cancelled out thanks to the gains of the past two days as 7040 and then 7200 come into view. Intraday dips will continue to be buying opportunities so long as the price holds above 6950.

FTSE_220721.pngSource: ProRealTime

DAX

The DAX is now targeting the 50-day simple moving average (SMA) of 15,564 once again, and from there the previous record highs come into view.

The strong bounce of the past three days restores the uptrend, and leaves the bearish view out of the picture for the time being.

DAX_220721.pngSource: ProRealTime

Dow

After the swift drop and equally swift recovery the Dow is back on course for new record highs, supported by a bullish stochastic crossover from an already-high level.

Now 35,000 and higher comes into view, as the brief shakeout and dip to the 100-day SMA (33,933) prompts more buyers to enter.

Dow_220721.pngSource: ProRealTime

 
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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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Indices’ rally to continue into another day

Indices on both sides of the Atlantic are still in strong form, as the bounce in the wake of Monday’s selloff enters its fourth day.

BG_index_indices_FTSE_Nikkei_Dow_DAX.jpgSource: Bloomberg
 
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Friday 23 July 2021 

FTSE 100

Further gains seem likely here as the FTSE 100 looks to move on above 7000 and target 7200.

Having bounced from the low of the week it looks like further upside is on the way, with the bearish view out of the picture unless we see a reversal back below 6900.

FTSE_230721.pngSource: ProRealTime

DAX

Having recovered the 50-day simple moving average (SMA) of 15,567 and moved on above it, the DAX now targets 15,800 and new record highs.

The uptrend has reasserted itself strongly this week, and has cancelled out the nascent bearish view from Monday’s session.

DAX_230721.pngSource: ProRealTime

S&P 500

New record highs for the S&P 500 seem likely after the bounce from earlier in the week, cancelling out the bearish outlook unless a reversal below 4260 takes place.

SPX_230721.pngSource: ProRealTime
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Indices look for further gains after recent bounce

The week has begun with small losses, but the uptrends of the past few sessions are firmly intact.

BG_ftse_100_ukx_indices_098098.jpgSource: Bloomberg
 
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Monday 26 July 2021 

FTSE 100

The FTSE 100 has fallen back from the high seen on Friday, but the bounce from last week’s low is intact.

A renewed move higher heads to 7040 and then on from there, while a drop back towards 6950 and then below 6900 could signal that the bounce has run its course and that a test of 6800 is in the offing.

FTSE_260721.pngSource: ProRealTime

DAX

The strong bounce from the DAX's lows of last week is still in place, despite some initial weakness overnight.

This dip appears to be stabilising around the 50-hour simple moving average (SMA) of 15,583. Given the powerful rebound in risk appetite this past week it looks like the buyers still have the upper hand.

DAX_260721.pngSource: ProRealTime

S&P 500

A new record high for the S&P 500 has confirmed the bullish trend once again.

Some weakness overnight seems unlikely to last, although a drop back below 4340 could signal a retracement is at hand.

SPX_260721.pngSource: ProRealTime
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FTSE 100, DAX and Dow head lower as recovery comes into question

FTSE, DAX, and Dow head lower, with the breakdown for the DAX potentially laying the groundwork for a similarly bearish move elsewhere.

BG_ftse_ukx_stock_markets_indices.jpgSource: Bloomberg
 Joshua Mahony | Senior Market Analyst, London | Publication date: Tuesday 27 July 2021 

FTSE 100 at risk of downturn

The FTSE 100 has started the day on a negative footing, with the index heading back towards the key 6979 swing-low.

Coming off the back of a deep retracement above the 61.8% threshold, a break back below that support level points towards a potential period of weakness coming into play. As such, watch out for whether that 6979 level breaks as a gauge of sentiment for the day ahead.

UKX-4-hours27721.pngSource: ProRealTime

DAX on the slide after breaking support

The DAX has already broken through the key 15542 support level, following a rally up through the 76.4% Fibonacci threshold. There is a good chance this move lower will provide a retracement of the latest rally rather than an all-out capitulation.

However, the break below 15542 does point towards a heightened chance of near-term downside, with a bearish view in play unless price rises through the 15641 level.

DAX-4-hours27721.pngSource: ProRealTime

Dow Jones turns lower after record high

The Dow is similarly on the back foot in early trade, coming off the back of a rise into record highs.

That intraday uptrend remains intact unless price falls back below the 34760 swing-low. Such a breakdown would point towards a potential retracement of the rally from 33740.

However, for now we need to see whether or not price ends this intraday uptrend by breaking 34760 as a gauge of sentiment.

DJI-4-hours27721.pngSource: ProRealTime
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