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FTSE 100, Dax and Nikkei make further headway

US markets are closed for Labor Day, but European and Japanese stocks have made further gains.

BG_chart_indices_stocks_098213234.jpgSource: Bloomberg
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Monday 06 September 2021 

FTSE 100

Each attempt to break above 7170 seems to run out of steam, but on the downside the buyers are for the moment able to hold the price above 7100.

The uptrend of recent months would suggest that the next move for the FTSE 100 will be higher, but for now this tight range continues to prevail.

FTSE_060921.pngSource: ProRealTime

DAX

Trendline resistance from the August peak continues to hold back progress for the DAX, as we saw on Friday, when once again an attempt to push higher ran out of steam.

The 15,730 level continues to provide a zone of support, so sellers will need to breach this to open the way to additional downside.

DAX_060921.pngSource: ProRealTime

Nikkei

The resignation of PM Suga appears to have delivered the catalyst for a change in trend for the Nikkei.

After steadily declining since February, the index found support in August at 27,000 as it had done in May.

From here a bounce developed, which has carried the price to its highest level since April, in what looks like a change of trend that puts the upside case back in play.

Nikkei_060921.pngSource: ProRealTime
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FTSE 100, DAX, and Dow pullback unlikely to last

FTSE, DAX, and Dow expected to push higher as indices ease back within wider uptrends.

bg_dax_365338748.jpgSource: Bloomberg
 Joshua Mahony | Senior Market Analyst, London | Publication date: Tuesday 07 September 2021 

FTSE 100 continues to grind higher

The FTSE 100 is drifting lower in early trade, following a push into the highest level in over two weeks yesterday.

This index has been grinding higher over the course of the past fortnight, as it attempts to regain the ground lost in mid-August. That intraday uptrend remains intact, with the weakness seen this morning likely to represent another short-term retracement.

As such, a bullish outlook holds unless the index falls back below the 7122 swing-low.

UKX-4-hours7921.pngSource: ProRealTime

DAX easing back after latest rally

The DAX kicked off the week in style, with price surging back towards the upper boundary of its recent consolidation zone. The move lower seen this morning highlights the potential for us to simply remain within this consolidation zone.

As such, it does make sense to await a potential breakout through the 15983-16032 resistance zone for the bullish continuation signal.

DAX-4-hours7921.pngSource: ProRealTime

Dow Jones falls back towards trendline support

The Dow has been in consolidation mode over the course of the past fortnight, with the index enjoying a belated start to the week after yesterday’s Labour Day holiday.

The long-term uptrend points towards a likely bullish exit from this consolidation pattern, with trendline support coming into play if we fall further.

As such, while we remain within this consolidation phase, the exit is expected to come towards the upside, with a break below the 35266 level required to bring expectations of a wider pullback.

DJI-4-hours7921.pngSource: ProRealTime
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Indices continue to fall

Stock markets fell yesterday, particularly in Europe, with the losses continuing today.

BG_ftse_100_ukx_indices_098098.jpgSource: Bloomberg
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Wednesday 08 September 2021 

FTSE 100

Yesterday’s reversal has been followed up with further losses, putting additional pressure on the index and causing it to drop below rising trendline support from mid-August.

Further declines target 7000, backed up by stochastics and moving average convergence/divergence (MACD), which have both turned lower. The bearish view remains in place unless we see a move back above 7150.

ftse_080921.pngSource: ProRealTime

DAX

Here the price has fallen below the 50-day simple moving average (SMA) of 15,709 and towards the zone of support from mid-August. Declining stochastics and MACD continue to reinforce the bearish view, opening the way to 15,400 and 15,100.

The bullish view will remain suspended unless the price moves back above 15,800, supported by bullish crossovers in momentum indicators.

DAX_080921.pngSource: ProRealTime

S&P 500

A modest decline here seems to be gathering pace, bringing the 50-day SMA at 4422 into view as a potential area of support.

Below this the August low at 4350 comes into view.

SPX_080921.pngSource: ProRealTime
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FTSE 100, DAX, and Dow slump provides potential opportunity for bulls

FTSE, DAX, and Dow hit hard in early trade, but the wider uptrend could provide a buying opportunity.

BG_ftse_100_ukx_index_indices_stocks_lonSource: Bloomberg
 Joshua Mahony | Senior Market Analyst, London | Publication date: Thursday 09 September 2021

FTSE 100 slide continues, with price falling below Fibonacci support

The FTSE 100 selloff has shown few signs of letting up, with the index falling below the 76.4% Fibonacci support level this morning.

This raises the risk of a decline through 6991 to bring a wider selloff into play. The wider uptrend clearly remains intact, yet each swing-low that is taken out brings expectations of a wider move lower.

With that in mind, there is still a chance of the bulls coming back into play here, yet this recent break below 7039 brings greater risk of a break back below 6991.

UKX-4-hours9921.pngSource: ProRealTime

DAX breaks support and heads lower

The DAX has taken out the 15622 support level, bringing expectations of a wider pullback for the index.

To the downside, it is worthwhile watching for some buying pressure to potentially come back into play within the 15423-15279 Fibonacci support zone. Given the long-term uptrend in play, there is a good chance we will see this current sell-off draw to an end before long.

This Fibonacci zone provides one key region of support which is likely to bring about a potential bullish reversal.

DAX-4-hours9921.pngSource: ProRealTime

Dow Jones falls back into Fibonacci support

The Dow has similarly been on the back foot, with price falling back into the 76.4% Fibonacci support level this morning.

The ability to remain above 34562 support is key here, with a bullish view in play unless that level is broken.

DJI-4-hours9921.pngSource: ProRealTime
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FTSE 100, DAX, and Dow expected to turn upwards after recent declines

FTSE, DAX, and Dow weakness brings potential buying opportunities given the long-term uptrend in play.

BG_ftse_100_ukx_indices_098098.jpgSource: Bloomberg
 Joshua Mahony | Senior Market Analyst, London | Publication date: Friday 10 September 2021 

FTSE 100 attempts to rebound from key support

The FTSE 100 has been hit hard over the course of the week, with price falling back into the 6991 support level. That threshold remains key, with a break below 6991 bringing a double top formation.

From a wider perspective, we could see a break through support as simply bringing the wider 6808-7225 retracement into play. In any case, the wider uptrend does point towards the bulls coming back into play before long.

As such, a recovery from here makes sense, with a decline through 6991 required to signal a wider pullback towards 6967 and 6906 support.

UKX-4-hours10921.pngSource: ProRealTime

DAX starts to regain lost ground

The DAX has similarly been on the back foot this week, although we are seeing the bulls come back into play from marginally above the 61.8% and 15420 support levels.

While there is always risk that we see another leg lower, this pullback was always unlikely to fall through the 15047 level, meaning that any positions around the 61.8% or 76.4% Fibonacci retracements look attractive.

As such, another leg lower could provide traders with a better entry opportunity. Nonetheless, whether we see that next leg lower or not, the bulls look likely to come back into play before long.

DAX-4-hours10921.pngSource: ProRealTime

Dow Jones turning upwards from Fibonacci support

The Dow has started to find its feet after a decline into the 76.4% Fibonacci support level.

The wider uptrend points towards a likely bullish recovery from here, with a decline through the 34562 level required to negate that bullish outlook.

DJI-4-hours10921.pngSource: ProRealTime
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Indices move higher in early trading

After a poor end to last week, indices have rediscovered their upward momentum.

BG_ftse_100_ukx_index_indices_stocks_lonSource: Bloomberg
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Monday 13 September 2021 

FTSE 100

The FTSE 100 has bounced from 7000, moving up from this support zone and aiming for a renewed move back to 7200.

The continued defence of 7000 leaves a more bearish view out of the picture for the time being, but a move below 7000 would bring 6882, the 200-day simple moving average (SMA), into view.

FTSE_130921.pngSource: ProRealTime

Dax

Dip buyers here have been rewarded so far with an initial bounce back to the 50-day SMA at 15,706. Further gains head towards 16,000, the ceiling of the past six weeks.

Sellers will be looking for a renewed move below 15,500 that opens the way to further downside. For the moment, however, the buyers appear to be in charge.

DAX_130921.pngSource: ProRealTime

S&P 500

The price is stabilising after a week of losses, nearing the 50-day SMA (4431) once again, the scene of previous recoveries this year.

The modest decline has yet to turn into a firm bounce such as that seen in Europe. Buyers appear to be doing their best to push the price back above 4500.

SPX_130921.pngSource: ProRealTime
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FTSE 100, DAX, and Dow start to regain lost ground

FTSE, DAX, and Dow attempt to regain ground after recent losses. However, hurdles still remain as the bulls start to find their feet again.

BG_ftse_100_ukx_indices_098098.jpgSource: Bloomberg
 Joshua Mahony | Senior Market Analyst, London | Publication date: Tuesday 14 September 2021 

FTSE 100 weakness likely to represent fresh buying opportunity

The FTSE 100 has been attempting to regain lost ground following a decline into the 6991 support level last week.

The first rally saw a 76.4% Fibonacci retracement take shape on Friday. However, we are now seeing a second retracement, with price falling back down towards the 61.8% Fibonacci support level at 7038.

With further upside expected, a bullish outlook holds unless we see price fall back below the support zone of 6991-7005.

UKX-4-hours14921.pngSource: ProRealTime

DAX expected to turn higher despite overnight losses

The DAX has also been regaining ground of late, with price having dropped back towards a confluence of 15420 and 61.8% support last Thursday.

With price regaining ground since then, we have seen a 61.8% pullback (15548) which led to a secondary push into the 200-SMA (simple moving average). We are seeing price fall back once again here, yet that looks likely to be a short-term retracement before we head higher again.

As such, a bullish outlook holds here, with a break below 15548 required to signal the beginning of another wider leg lower.

DAX-4-hours14921.pngSource: ProRealTime

Dow Jones rolling over after rebound from key support

The Dow has been regaining ground after a decline into the region of the August low of 34562. Thankfully that level held, with price rising over the course of Monday.

Nonetheless, we need to see a break up through 35117 to provide greater confidence that this bearish phase is over. With price rolling over after an overnight rally above 61.8% resistance, there is a chance we head back down towards that crucial 34562 support level.

The ability to hold up above that level is key here, with a break below that point signalling a wider pullback coming into play.

DJI-4-hours14921.pngSource: ProRealTime
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FTSE 100 and S&P 500 struggle but DAX looking stronger

Indices continue to see pre-options expiry volatility, but the DAX is still looking the strongest at present.

BG_index_indices_FTSE_Nikkei_Dow_DAX.jpgSource: Bloomberg
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Wednesday 15 September 2021

FTSE 100

Like most markets, Tuesday saw Monday’s gains given back, putting the FTSE 100 back towards the lows of last Thursday.

For now those lows are yet to be tested, providing a line in the sand for the time being. Below 6990 the index looks to move back towards 6887, the 200-day simple moving average (SMA), and then down to the 6800 low from mid-July.

FTSE_150921.pngSource: ProRealTime

DAX

Unlike the FTSE, this market has held on to most of the gains from Monday.

This has been accompanied by a bullish stochastic crossover, providing a near-term bullish view. Further gains above 15,800 would solidify this bullish view and open the path to 16,000 and higher.

Sellers need to drive the price back towards 15,500 and the lows of last week.

DAX_150921.pngSource: ProRealTime

S&P 500

Hopes of a bounce were dashed yesterday, and instead the index pushed to a new intraday lower low.

As yet there is little sign that the low is in, with opex on Friday meaning that we have likely not seen the end of the volatility.

The sellers continue to carry the day in the short-term, but dip buyers should remain on alert for any change in price action that will signal a new move higher.

SPX_150921.pngSource: ProRealTime
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Indices mixed in early trading

Some small gains have been seen in early trading, but European markets are still struggling to keep pace with a more ebullient US performance.

BG_ftse_100_ukx_indices_098098.jpgSource: Bloomberg
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Thursday 16 September 2021 

FTSE 100

Hopes of a rebound for the FTSE 100 have been dashed again, as the price gives back the gains from yesterday.

This leaves the bearish view in play for now, targeting a move below 7000.

FTSE_160921.pngSource: ProRealTime

DAX

Sellers still appear to have the upper hand here, pushing the price back down from yesterday’s high and opening the way to another test of 15,450 - last week’s lows.

With the price unable to hold gains the bullish view remains out of the picture for now, and would only be revived with a move back above 15,850.

DAX_160921.pngSource: ProRealTime

Dow

US futures are holding on to their gains from Wednesday, providing hope of a move upwards after the pullback so far.

A breakout from the potential bullish wedge, above 34,850, would mark a positive development for dip buyers. Meanwhile, sellers will want to drive the price back below 34,500.

Dow_160921.pngSource: ProRealTime
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Indices edge off their lows as recovery hopes rise

It has been a seesaw week for stock markets, but the buyers appear to be gaining the upper hand as the final session gets underway.

BG_ftse_100_ukx_index_indices_stocks_lonSource: Bloomberg
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Friday 17 September 2021 

FTSE 100

The FTSE 100 managed to hold on to its gains, and is looking to push on above 7080, in order to break the trading range of the week.

This would open the path towards 7200 once again, putting the buyers firmly in charge. Sellers have been unable to hold the price near 7000, or indeed to push the index below this level.

FTSE_170921.pngSource: ProRealTime

DAX

Over the previous two days dips towards 15,610 have found buyers, but a move above 15,750 still eludes the index.

As the week comes to a close, the buyers have pushed the index back towards this level, with a breakout above 15,750 opening the way to a renewed bounce, helped by rising stochastics.

Sellers need to push the price below 15,600 to open the way to renewed downside.

DAX_170921.pngSource: ProRealTime

S&P 500

Thursday’s bounce off the 50-day simple moving average (SMA) seems to have put the buyers back in charge, and a move above 4500 would bring this latest shallow pullback to a close, and indicate that a new move towards recent highs is underway.

SPX_170921.pngSource: ProRealTime
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