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FTSE 100, DAX, and Dow pullback unlikely to last

FTSE, DAX, and Dow expected to gain ground, with morning weakness viewed as a potential retracement phase.

bg_wall_st_1131822.JPGSource: Bloomberg
 Joshua Mahony | Senior Market Analyst, London | Publication date: Tuesday 19 October 2021

FTSE 100 struggles after breaking resistance

The FTSE 100 has started to drift lower after a brief foray above the 7225 resistance level established back in August. A break below the 7181 level would bring about expectations of a more protracted period of downside here.

However, unless we see 7057 broken, any near-term weakness looks likely to represent a short-term pullback before we head higher once more.

UKX-4-hours191021.pngSource: ProRealTime

DAX drifting lower after recent rally

The DAX managed to break through the 76.4% Fibonacci resistance level on Friday, heightening the chance that we are set to break out of this recent bearish trend.

However, price is turning lower here, clearly taking a turn in favour of the bears. Risks do remain given the ongoing wider trend of lower highs.

Thus, greater confidence comes into play for the bulls above 15759. Until then, there is risk of further short-term downside if price breaks below the 15416. Nonetheless, there is a strong chance that such a move would simply represent a retracement phase.

DAX-4-hours191021.pngSource: ProRealTime

Dow Jones breaks resistance to bring bullish outlook

The Dow managed to break up through the crucial 35064 resistance level on Friday, bringing the recent bearish phase to an end.

The pullback seen yesterday found support on that same 35064 level, with price pushing higher once again. A decline through yesterday’s low could bring a short-term pullback into play.

However, any near-term weakness would simply be viewed as a bullish retracement unless price breaks below 34109.

DJI-4-hours191021.pngSource: ProRealTime
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FTSE 100 and S&P 500 look for further gains while DAX struggles at resistance

Overall indices are continuing to move higher, but the DAX has struggled to make headway as it nears trendline resistance.

bg%20ftse%20100%20london%20stock%20exchaSource: Bloomberg
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Wednesday 20 October 2021

FTSE 100

The FTSE 100's overall move higher from the September low is intact, although upward momentum has stalled around 7200.

A firm breakout to new highs continues to elude the index, but without a firm break lower below rising trendline support the outlook continues to favour higher prices.

FTSE_201021.pngSource: ProRealTime

DAX

After the leap higher last week the index has definitively stalled, failing to break trendline resistance and remaining below the 50-day and 100-day simple moving averages (SMAs).

While the price has yet to break Monday’s low, and with stochastics still rising, the bearish view is still in abeyance, but a drop below 15,400 would signal a new move to the downside.

Meanwhile, buyers will hope that the price can resume the move higher and on above 15,600 to break trendline resistance.

DAX_201021.pngSource: ProRealTime

S&P 500

After clearing the late September highs the price has pushed on towards the 4550 record high. We look for gains above this level in due course.

It would take a reversal back below 4450 to suggest the sellers were back in charge.

SPX_201021.pngSource: ProRealTime
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FTSE 100, DAX, and Dow pause after latest push higher

FTSE, DAX, and Dow hesitate after recent gains, although any period of downside looks likely to represent a short-term pullback before the bulls come back into play.

bg_dax_365338748.jpgSource: Bloomberg
 Joshua Mahony | Senior Market Analyst, London | Publication date: Thursday 21 October 2021 

FTSE 100 falls back into notable support level

The FTSE 100 has struggled to maintain price action above the key 7225 resistance level, with price subsequently easing back since Friday’s peak.

A break back below the 7181 low brings expectations of a wider retracement phase here, with that level likely to prove key for near-term sentiment.

However, whether we see that period of downside come into play or not, the bulls are expected to come back into play before long.

UKX-4-hours211021.pngSource: ProRealTime

DAX consolidating after recent rally

The DAX has lost momentum after a recent period of upside, with price faltering at trendline resistance.

The decline into 15416 brings about a key level to watch, and it seems we are seeing some support come into play thus far. A break back below that level brings greater expectations of a wider retracement phase coming into play.

Conversely, a rise through trendline and 15573 starts to build a story around a potential push up towards the critical resistance level of 15759.

DAX-4-hours211021.pngSource: ProRealTime

Dow Jones falters at record highs

The Dow has managed to claw itself back into record high territory, with the index tentatively pushing through the prior peak of 35634 yesterday.

However, we are seeing the Dow falter at that level, with price falling back towards the near-term 35406 swing-low. A break below that level would signal a potential bearish short-term phase coming into play here.

However, should such a move come to fruition, it would simply be viewed as a wider retracement and likely precursor to further upside. Until we see 35406 broken, the intraday uptrend remains in play.

DJI-4-hours211021.pngSource: ProRealTime
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FTSE 100 & DAX still stalled but S&P 500 targets new record

Gains for European markets have been hard to come by this week, but US indices are still in strong form thanks to earnings season.

BG_london_stock_exchange_LSE_ftse_321+89Source: Bloomberg
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Friday 22 October 2021 

FTSE 100

The FTSE 100 continues to consolidate, refusing to move below 7200 even as a rally through last week’s highs eludes it.

This leaves a move higher as still the most likely next move. A drop through 7150 would point towards a renewed move lower.

FTSE_221021.pngSource: ProRealTime

DAX

Here too the index has held its ground well, refusing to move lower even as it remains stuck below trendline resistance and the 50- and 100-day simple moving averages (SMAs) of 15,568 and 15,602 respectively.

Yesterday’s dip towards 15,400 found buyers, delaying any bearish turn lower. Bulls still need a move above 15,602 to break above trendline resistance and the aforementioned moving averages, in order to create a more bullish view.

DAX_221021.pngSource: ProRealTime

S&P 500

After an interlude of seven weeks, the index has returned to its previous record high and now looks for further gains.

Having marched higher for seven sessions the index remains in bullish form, completing its rebound from 4300, and with no sign of any retracement yet at hand.

SPX_221021.pngSource: ProRealTime
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FTSE 100, DAX, and Dow likely to push higher despite overnight pause

The FTSE, DAX, and Dow pause overnight, although wider uptrend points towards further upside to come.

BG_london_stock_exchange_LSE_ftse_219881Source: Bloomberg
 Joshua Mahony | Senior Market Analyst, London | Publication date: Wednesday 27 October 2021

FTSE 100 starts to ease back after latest rise into 19-month highs

The FTSE 100 managed to push up through the 7246 resistance level on Tuesday, with the index rising into a 19-month high.

However, the index is easing back this morning, with price seemingly moving into another retracement mode. To the downside, an ascending trendline and 7246 support provide near-term hurdles to watch.

Ultimately, we would need to see a break below the 7179 to bring about a fresh bearish view. Until then, there is a good chance we see further upside from here.

UKX-4-hours271021.pngSource: ProRealTime

DAX reversing lower from key resistance level

The DAX has been stopped in its tracks after a rise back into the 15759-15793 swing-high resistance zone.

The fact that we have seen price break back into that zone brings an end to the recent trend of lower highs, signalling the expectations of further upside from here.

Quite how deep this retracement goes remains to be seen, but a bullish outlook remains in play unless we see price fall back below the 15398 swing-low.

DAX-4-hours271021.pngSource: ProRealTime

Dow Jones continues to gain ground

The Dow has been on the rise of late, with prices seemingly hitting fresh highs on a daily basis.

While price has drifted lower overnight, there is likely to be another bout of gains coming into play before long. As such, a bullish outlook holds unless price falls back below the 35443 swing-low established on Thursday.

DJI-4-hours271021.pngSource: ProRealTime
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FTSE 100, DAX, and S&P 500 pullback likely to resolve to the upside

The FTSE, DAX, and S&P 500 have eased back after recent gains, but the bulls never look far away.

BG_ftse_100_ukx_index_indices_stocks_lonSource: Bloomberg
 Joshua Mahony | Senior Market Analyst, London | Publication date: Thursday 28 October 2021

FTSE 100 falls back into August highs

The FTSE 100 has been on the back foot, with price falling back into the 7225 support level established in August.

The current pullback looks to be a retracement and thus bullish positions are favoured unless price breaks 7179.

UKX-4-hours281021.pngSource: ProRealTime

DAX easing back from resistance, but bullish outlook holds

The DAX has been easing back from the 15759-15793 resistance zone since Tuesday, with price losing traction off the back of a strong period for the index.

With price having negated the trend of lower highs, it is now likely that this current pullback is a retracement phase before we head higher once again. With that in mind, a bullish view holds unless price falls below the 15398 swing-low.

DAX-4-hours281021.pngSource: ProRealTime

S&P 500 falls back into September high

The S&P 500 has lost traction over the course of the past two days, with price falling back into the confluence of 61.8% Fibonacci and 4550 support. That 4550 level represents the prior record high set in September.

A break back below the 4523 swing-low would point towards a wider retracement move coming into play. Until then, another turn higher looks likely before long.

SPTRD-4-hours281021.pngSource: ProRealTime
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FTSE 100, DAX, and Dow weakness looks unlikely to last

The FTSE, DAX, and Dow lose traction overnight, but the bulls could come back into play given recent bullish trends.

bg_dax_365338748.jpgSource: Bloomberg
 Joshua Mahony | Senior Market Analyst, London | Publication date: Friday 29 October 2021

FTSE 100 rebounding after overnight losses

The FTSE 100 has been on the back foot overnight, following a batch of disappointing tech earnings from the US.

Nonetheless, those declines have reversed swiftly after a move into the 100-simple moving average (SMA). Crucially, we haven’t seen price break below the 7179 level, meaning the uptrend remains intact.

Until that level is broken, it makes sense to expect further upside.

UKX-4-hours291021.pngSource: ProRealTime

DAX falls back into Fibonacci support

The DAX is on the rise after an overnight decline into the 61.8% Fibonacci support level.

The recent rally into 15759-15793 resistance ends the wider trend of lower highs. As such, this recent pullback is viewed as a retracement before we head higher.

A break below 15398 would negate that bullish outlook.

DAX-4-hours291021.pngSource: ProRealTime

Dow declines limited as uptrend remains in play

The Dow has similarly seen some selling pressure after disappointing numbers from Apple and Amazon.com.

However, we are yet to see anything particularly worrying, with a break below the 35443 level required to signal a wider pullback coming into play here.

DJI-4-hours291021.pngSource: ProRealTime
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FTSE 100, DAX, and Dow expected to reverse higher after morning pullback

The FTSE, DAX, and Dow likely to gain ground despite a somewhat mixed start to the day.

BG_ftse_100_ukx_index_indices_stocks_lonSource: Bloomberg
 Joshua Mahony | Senior Market Analyst, London | Publication date: Tuesday 02 November 2021 

FTSE 100 hit hard in early trade

The FTSE 100 has been on the back foot this morning, with the index reversing sharply lower after a rise to 20-month highs yesterday.

The ability to remain above 7189 is key here, with a decline through that latest swing-low bringing a more bearish outlook into play. Until then, this pullback brings a potential buying opportunity for bulls seeking to enter this recent bullish trend.

UKX-4-hours21121.pngSource: ProRealTime

DAX pushing higher after bullish break

The DAX has continued to push higher after a breakout through the key 15759-15793 resistance zone. That break brings an end to the wider bearish trend that has played out in recent months. Instead, we now have a clear bullish signal, with further upside expected.

A break back below the 15777 low established overnight would signal a more protracted period of retracement. However, until that happens we look likely to push onwards from here.

DAX-4-hours21121.pngSource: ProRealTime

Dow retracing from record highs

The Dow has started to drift lower this morning, following yesterday’s rise into fresh record highs. A decline back below the 35499 swing-low would bring about a signal that we could see a more protraction pullback.

Until then, this brief period of weakness looks likely to be a buying opportunity within a clear-cut uptrend.

DJI-4-hours21121.pngSource: ProRealTime
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FTSE 100 stalls but DAX and S&P 500 still strong

While the FTSE 100’s rally has stalled, the DAX and S&P 500 have been bolstered by bullish momentum.

bg%20ftse%20100%20stock%20exchange%20203Source: Bloomberg
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Wednesday 03 November 2021

FTSE 100

Gains for the FTSE 100 have stalled over the past 24 hours, with traders keeping an eye on 7240, yesterday’s low, and then Friday’s 7200 for signs that the sellers are able to eat into some of the recent gains.

Overall the upward move remains intact, but after six weeks of gains there is a sense of waning bullish momentum in the short-term.

FTSE_031121.pngSource: ProRealTime

DAX

This index has had a better time, rallying sharply yesterday to its highest level in two months.

Having bounced off trendline support at the end of last week the price seems determined to make further headway, targeting the August peak at 16,032, now just 90 points or so away. Above here new record highs beckon.

DAX_031121.pngSource: ProRealTime

S&P 500

The week has seen the S&P 500, Dow and Nasdaq 100 move to new records, hardly a bearish combination.

The question for this index is at what point the high stochastic readings and the widening distance between the price and the 50-day simple moving average (SMA) of 4470 will begin to matter.

As oil’s advance showed, the price can keep going for quite a while if the momentum is there. So far, the index shows no desire to give back recent gains.

SPX_031121.pngSource: ProRealTime
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FTSE 100, DAX, and Dow continue to push higher

The FTSE, DAX, and Dow push higher, with another bout of upside looking likely before long.

BG_ftse_100_ukx_indices_098098.jpgSource: Bloomberg
 Joshua Mahony | Senior Market Analyst, London | Publication date: Thursday 04 November 2021

FTSE 100 reversing higher after latest pullback

The FTSE 100 has been regaining ground since yesterday’s low, with price falling back into the confluence of the ascending trendline, and 61.8% Fibonacci support.

With a clear bullish trend in play, a break below 7189 would be required to bring about a more neutral picture into play. A decline through to the 76.4% support level is a possibility, but the bulls are likely to return in the near future.

UKX-4-hours41121.pngSource: ProRealTime

DAX rallies into record high

The DAX has continued its move higher this week, with price pushing up through the August peak of 16032 yesterday.

We are seeing price consolidate overnight, with a break below the 15921 level required to signal a wider pullback coming into play. Until then, further upside looks likely as the index continues to push into fresh territory.

DAX-4-hours41121.pngSource: ProRealTime

Dow continues to push higher as bulls remain in charge

The Dow has been on the rise over the course of the week, with price rising into fresh record highs on a daily basis.

A break back below the 35891 level would be required to bring about a wider retracement into play. Until then, the intraday trend of higher lows does point towards another push higher from here.

DJI-4-hours41121.pngSource: ProRealTime
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Indices in robust form after strong NFP reading

Friday’s payrolls gave most global markets a boost, with major indices having enjoyed solid gains over the last month.

bg%20ftse%20100%20london%20stock%20exchaSource: Bloomberg
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Monday 08 November 2021 

FTSE 100

The FTSE 100 continues to make headway, adhering to trendline support as it has done since the end of September, and moving to target 7440, 7550 and then higher, having cleared the summer highs of 7220 over the past two weeks.

FTSE_081121.pngSource: ProRealTime

DAX

Unlike other indices which were more enthused by Friday’s payroll numbers, the DAX has continued to ease off, having recouped all the September losses and (briefly) touched a new record high.

The index may continue to edge back down towards 15,800, but even this will leave the overall move higher firmly intact.

DAX_081121.pngSource: ProRealTime

S&P 500

Friday’s payroll report helped power the S&P 500 to a new peak, leaving buyers with reason to celebrate.

There has been no attempt of late to move back below the previous session’s lows, each day seemingly bringing a desire for further gains. A move below 4800 is required to provide an indication of short-term weakness.

SPX_081121.pngSource: ProRealTime
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FTSE 100, DAX, and Dow expected to continue their recent uptrend

The FTSE, DAX, and Dow are expected to continue their uptrend, with few signs of a downside retracement as things stand.

BG_ftse_100_ukx_indices_098098.jpgSource: Bloomberg
 Joshua Mahony | Senior Market Analyst, London | Publication date: Tuesday 09 November 2021

FTSE 100 starts to turn upwards once more

The FTSE 100 has dropped back down into trendline support overnight, with the index continuing to retrace following Friday’s peak.

However, we remain within an intraday uptrend, with the bulls expected to get back on the front foot. With that in mind, the bulls are expected to come back into play from here.

A break back below 7234 support would be required to bring about a more neutral near-term view.

UKX-4-hours91121.pngSource: ProRealTime

DAX consolidates around record highs

The DAX has been in consolidation mode since reaching a record high last Wednesday, with the index treading water ever since.

A break back below the 15993 support level would bring about a wider retracement phase, while a rally through 16089 would bring about bullish continuation signal. Should that break occur, bullish positions would be favoured with a stop back below the recent 15993 level.

DAX-4-hours91121.pngSource: ProRealTime

Dow continues to push into record highs

The Dow has managed to establish record highs on a regular basis of late, with price showing few signs of letting up.

A break back below 35987 and trendline support would provide the first sign that things could slow into a retracement. However, without such a downside break, further upside is expected from here.

DJI-4-hours91121.pngSource: ProRealTime
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Indices see gains stall

After recent strong gains, some of the bullish momentum has faded, with the S&P 500 finally breaking its winning streak.

BG_ftse_100_ukx_index_indices_stocks_lonSource: Bloomberg
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Wednesday 10 November 2021

FTSE 100

The FTSE 100 is back on the up today after edging down yesterday, as it looks for a reason to move higher and move the October bounce into something even more impressive.

Overall we should expect the index to make further progress and recoup 7350 and higher, and at present there seems little to indicate that selling pressure is gathering strength.

FTSE_101121.pngSource: ProRealTime

DAX

Despite attempts to rediscover upward momentum the DAX is still seeing some selling at the highs. This is only to be expected after such a bounce, and has yet to turn into anything more serious.

Ultimately we need to see a resolution of the hard-fought battle of the last few days, with either a drop below 15,990 or a rally back above 16,100.

DAX_101121.pngSource: ProRealTime

S&P 500

The S&P 500 finally broke its recent winning streak yesterday, but with only modest declines this morning it is far from clear that a more substantial selloff will develop.

Additional declines target 4550 in the first instance.

SPX_101121.pngSource: ProRealTime
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FTSE 100, DAX, and Dow expected to push higher despite volatility

The FTSE, DAX, and Dow expected to push higher, with retracement in US indices looking like a potential buying opportunity.

BG_DAX_Deutsche_Boerse_AG_360261127.jpgSource: Bloomberg
 Joshua Mahony | Senior Market Analyst, London | Publication date: Thursday 11 November 2021

FTSE 100 breaking higher after latest Fib retracement

The FTSE 100 has continued its uptrend with price rising into a pandemic high after a 76.4% Fibonacci retracement.

The break up into fresh highs does highlight the continuation of this bullish trend, with the ongoing pattern of higher lows key to maintaining this bullish outlook.

UKX-4-hours111121.pngSource: ProRealTime

DAX continues to consolidate around record highs

The DAX has been stuck within a tight range over the course of the past week, coming off the back of a rise into fresh record highs earlier in the month.

A break below the 15982 level would point towards a wider retracement phase coming into play. Alternately, a break up through the 16106 resistance level would bring the bullish breakout signal that ushers in the next leg higher for the index.

Whether we see the short-term retracement phase or not, the wider uptrend points towards a bullish outlook driving the index into fresh highs before long.

DAX-4-hours111121.pngSource: ProRealTime

Dow expected to turn upwards despite current pullback

The Dow has been on the back foot over the course of the week thus far, with price falling back towards the 61.8% Fibonacci support level.

We could see further downside over the near-term, but that looks a buying opportunity given that ongoing uptrend. That bullish trend holds unless price falls back below the 35499 swing-low.

DJI-4-hours111121.pngSource: ProRealTime
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FTSE 100 at one-year high and DAX rallies, while S&P 500 keeps struggling

European indices have outpaced their US counterparts in recent days, as the S&P 500 continues to find it hard to keep rallying.

bg%20ftse%20100%20stock%20exchange%20203Source: Bloomberg
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Friday 12 November 2021 

FTSE 100

Yesterday’s push opened the door to fresh post-pandemic highs and puts the buyers firmly back on top.

Expectations of a potential turn lower back towards 7200 and further down have been cancelled out, with the FTSE 100 now targeting 7500 and 7650 to the upside.

FTSE_121121.pngSource: ProRealTime

DAX

Thursday saw the DAX recoup lost ground and make a new record high, and with this now achieved bullish momentum will likely carry the price to fresh highs.

There is still no sign of a pullback, and with the index at a new higher high even a drop back towards 15,800 would still be more of a potential buying opportunity.

DAX_121121.pngSource: ProRealTime

S&P 500

By contrast a small retracement continues here, with the S&P 500 unable to rally back to previous highs as yet.

Declines continue to target 4550 as an initial area of support. A recovery back above 4675 could easily see the buyers take control once again.

SPX_121121.pngSource: ProRealTime
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Indices buyers still in overall control despite some early hesitation

The overall outlook for stock markets still points towards further gains, although some consolidation may still have to be endured.

bg%20ftse%20100%20london%20stock%20exchaSource: Bloomberg
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Monday 15 November 2021

FTSE 100

Further declines could well be on the agenda here as the FTSE 100 retreats from its highs of last week.

The natural area to look for initial support is 7230 if the pullback gains momentum, and then from here down to the 50-day simple moving average (SMA) at 7155.

MicrosoftTeams-image%20(2).pngSource: ProRealTime

DAX

After leaping to a new peak last week the DAX has stalled once again, although with such high moving average convergence/divergence (MACD) and stochastic readings momentum still lies firmly with the buyers.

Bulls will look for a new move above 16,100, which will open the way to fresh record highs. Sellers will likely remain disappointed unless the price can move back below 15,800.

MicrosoftTeams-image%20(1).pngSource: ProRealTime

S&P 500

Last week’s rebound is firmly in place it seems, which would then put the S&P 500 on course to recover the record highs from earlier in the month, and then most likely on to new all-time highs.

Sellers will hope for a reversal that goes back below 4631 to undo the gains of Thursday and Friday last week.

MicrosoftTeams-image.pngSource: ProRealTime
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FTSE 100, DAX, and Dow look likely to push higher once again

The FTSE, DAX, and Dow on the rise, with stocks expected to continue their bullish theme going forward.

BG_ftse_100_ukx_indices_098098.jpgSource: Bloomberg
 Joshua Mahony | Senior Market Analyst, London | Publication date: Tuesday 16 November 2021

FTSE 100 turning higher after 50% pullback

The FTSE 100 has started to turn upwards once again, following a pullback into the 50% retracement level.

With a clear uptrend in play, this latest move was always likely to represent a retracement before we push upwards once again. With that in mind, a bullish outlook holds unless we see price fall back below 7256.

UKX-4-hours-2021_11_16-08h14.pngSource: ProRealTime

DAX continues to grind into fresh record highs

The DAX been grinding higher of late, with the index reaching fresh record highs on a habitual basis.

The latest push up through trendline resistance brings expectation of further gains, with a break back below 15986 required to bring about a more pessimistic outlook.

DAX-4-hours-2021_11_16-08h19.pngSource: ProRealTime

Dow starts to regain ground after recent retracement phase

The Dow has started to regain ground following a retracement into the 61.8% Fibonacci support level, with price expected to push towards the previous highs before long.

There is a risk of a deeper pullback into the 76.4% Fibonacci level at 35753, but a bullish view would remain in play unless price falls back below the 35501 swing-low.

DJI-4-hours-2021_11_16-03h26.pngSource: ProRealTime
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FTSE 100, DAX, and Dow expected to gain ground from here

The FTSE, DAX, and Dow look likely to push higher, with the FTSE and Dow hoping to follow the lead of the DAX which continues to hit record highs.

BG_london_stock_exchange_LSE_ftse_219881Source: Bloomberg
 Joshua Mahony | Senior Market Analyst, London | Publication date: Wednesday 17 November 2021

FTSE 100 turning upwards from support zone

The FTSE 100 has started to find support this morning, following a retrace into the confluence zone of trendline and Fibonacci support.

The recent uptrend points towards a strong possibility that we are due another bullish turn from here, with a break below the recent swing-low of 7256 required to negate the current bullish outlook.

UKX-4-hours-2021_11_17-08h29.pngSource: ProRealTime

DAX pushing into new record highs in early trade

The DAX has managed to break into another fresh high this morning, continuing the recent positive form in this index.

We are seeing little signs of letting up on this bullish trajectory, with a break back below the latest swing-low of 16210 required to bring about a more neutral short-term view into play. Until then, further upside looks likely following this latest bullish breakout.

DAX-4-hours-2021_11_17-08h38.pngSource: ProRealTime

Dow channeling higher from Fibonacci support

The Dow has been on the rise over the course of the past week, with price channeling upwards after a pullback into the 61.8% Fibonacci level.

The wider picture does remain bullish despite the weakness shown over the course of last week. Thus a bullish outlook holds unless we see price fall back below the 35499 swing-low.

However, a move back below 36028 would be required to bring expectations of another near-term pullback into the 61.8% or 76.4% support levels.

DJI-4-hours-2021_11_17-03h45.pngSource: ProRealTime
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DAX leads the way, as FTSE 100 and Dow retrace within bullish trend

The DAX continues to outperform, with the FTSE and Dow retracing in what looks likely to be a short-term pullback phase within a wider uptrend.

bg_dax_365338748.jpgSource: Bloomberg
 Joshua Mahony | Senior Market Analyst, London | Publication date: Thursday 18 November 2021

FTSE 100 declines raise risk of wider bearish move

The FTSE 100 has continued to pull back, with the index passing through all Fibonacci levels to raise the risk of a bearish breakdown.

A fall down through the 7256 swing-low would bring about a signal that this pullback could form into a wider retracement phase. As such, the outlook will be determined by whether we see price break or rebound from 7256.

UKX-4-hours-2021_11_18-08h07.pngSource: ProRealTime

DAX continues to push up into record highs

The DAX has been on the rise of late, with the index largely outperforming as we see weakness throughout US and UK stocks.

The push up through the 16105 resistance level this Monday brought a fresh buy signal and we have been pushing upwards since. That bullish outlook holds unless we see a break back below the 15986 swing-low.

DAX-4-hours-2021_11_18-08h19.pngSource: ProRealTime

Dow expected to reverse higher despite recent pullback

The Dow has been on the back foot over the course of the past 10 days, with price weakening overnight to fall back into 61.8% Fibonacci support yet again.

This period is deemed a retracement of the rally from 35498, with a drop below that level required to bring about a wider bearish picture for the index.

Until that break occurs, we are likely to see the bulls come back into play once again from this 61.8-76.4% Fibonacci zone.

DJI-4-hours-2021_11_18-03h48.pngSource: ProRealTime
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Friday begins with indices posting gains

Fresh records for the DAX and S&P 500 confirm their bullish uptrends, while the FTSE 100 steadies after recent losses.

BG_ftse_100_ukx_indices_098098.jpgSource: Bloomberg
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Friday 19 November 2021 

FTSE 100

All eyes are on the FTSE 100 to see whether it can make further headway and confirm a higher low has formed.

Yesterday saw the price dip below 7250, but then recover, and with early gains in place today a reversal higher could be in play. This would put 7400 back into view as an initial upside target.

The sellers will want to see 7250 lost once again in order to open the way to 7220 and lower.

FTSE_191121.pngSource: ProRealTime

DAX

It has been another strong week for this index, which has sallied to new highs, helped by a weaker euro.

For now the buyers are firmly in control, and it would need a reversal below 16,100 to provide a short-term bearish view.

DAX_191121.pngSource: ProRealTime

S&P 500

After some brief weakness earlier in November the buyers are back in charge here too, carrying the index to a new record in early trading today.

Thanksgiving is now in sight in the US, and this often sees markets rally into the holiday. While the index does look overextended, at least visually, it has not yet been particularly bothered by this, despite the yawning gulf between the price at 4724 and the 50-day simple moving average (SMA) at 4512.

SPX_191121%20(1).pngSource: ProRealTime
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FTSE 100 moves higher after pullback while DAX and S&P 500 aim for further gains

The new week begins with the DAX and S&P 500 preparing to move higher as the FTSE 100 aims to recover from recent weakness.

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

FTSE 100

The FTSE 100 has moved higher after touching a one-month low on Friday.

After being overextended in mid-November the pullback has brought the index back towards the 50-day simple moving average (SMA) at 7176. If it can make further headway towards 7300 we may see bullish stochastic and moving average convergence/divergence (MACD) crossovers that will point towards a recovery in bullish momentum.

Intraday, the price is still at risk of creating a lower high, so some selling will likely take place in an attempt to drive the price back below Friday’s low.

FTSE_221121.pngSource: ProRealTime

DAX

A small drop for the DAX last week might yet turn into something more extensive, but already buyers have popped up to stem the flow of declines.

There might be some support at 16,032 and then the area at 15,980, while a deeper retracement heads towards 15,792. A fresh bounce targets last week’s highs at 15,300.

DAX_221121.pngSource: ProRealTime

S&P 500

The price briefly touched a new high on Friday, and is looking to start the new week in strong form.

So far the wide gap we noted on Friday between the price at 4700 and the 50-day SMA at 4516 does not appear to bother the index, but it could become a point of concern in due course, prompting a drop similar to what we saw last week in the FTSE 100.

SPX_221121.pngSource: ProRealTime
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FTSE, DAX, and Dow head lower, with indices breaking through key support

The FTSE, DAX, and Dow are on the back foot, with price breaking support to bring expectations of further weakness.

bg_frankfurt_borse_dax.jpgSource: Bloomberg
 Joshua Mahony | Senior Market Analyst, London | Publication date: Tuesday 23 November 2021

FTSE 100 continues to consolidate around 7200 support

The FTSE 100 has seen plenty of volatility this morning, with an early fall back into 7200 bringing an immediate rebound.

Coming off the back of a bearish reversal from the 76.4% Fibonacci resistance level, there is still a chance of further downside from here. To the upside, we would need to see a break up through the 7296 swing-high level to end the bearish trend seen over the course of the past fortnight.

Until then, there is a risk of another bearish turn to take price back down into the 7179-7200 support zone.

UKX-1-hour-2021_11_23-08h10.pngSource: ProRealTime

DAX drops through support as economic restrictions loom

The DAX has slipped back below the key 15986 support level in early trade today, with looming Covid restrictions bringing heightened risk for German stocks.

That drop through support brings an end to the trend of higher lows, with further downside expected as a result. A rise through 16204 would be required to bring an end to this negative outlook.

DAX-4-hours-2021_11_23-08h21.pngSource: ProRealTime

Dow heads lower, with price breaking through key support

The Dow has been hit hard in early trade today, with price falling back below the 35498 swing-low to bring expectations of further downside.

With an intraday trend of lower highs, we are expecting to see further weakness play out until the latest swing-high gets taken out (currently 35932).

DJI-4-hours-2021_11_23-03h34.pngSource: ProRealTime
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FTSE 100 recovers but DAX and S&P 500 still struggling

While European and US markets remain under pressure, the FTSE 100 has made headway.

bg%20ftse%20100%20stock%20exchange%20203Source: Bloomberg
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Wednesday 24 November 2021 

FTSE 100

After rallying yesterday the FTSE 100 has continued to make headway, and looks to have ended the pullback from recent highs, although a close above 7300 is needed to reinforce this more bullish view.

As an upside target 7400 is back in sight, with the bearish view requiring a move back below 7200.

FTSE_241121.pngSource: ProRealTime

DAX

An attempt to rally above 16,000 has been firmly defeated, leaving the sellers in charge here once again and pointing the way to additional downside towards 15,800 and then the 50-day simple moving average (SMA) at 15,655, along with the 100-day SMA just above this at 15,682.

DAX_241121.pngSource: ProRealTime

S&P 500

The sellers continue to hold sway here, as futures push lower in early trading.

Yesterday’s bounce has been partly reversed, with gains faltering below 4700. Further declines target the 4630 swing-low, and from there down towards 4550.

SPX_241121.pngSource: ProRealTime
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FTSE, DAX, and CAC rebound remains at risk given recent selloff

The FTSE, DAX, and CAC have been attempting to regain lost ground. However, risks remain evident given the recent selling pressure seen for indices.

BG_london_stock_exchange_LSE_ftse_321+89Source: Bloomberg
 Joshua Mahony | Senior Market Analyst, London | Publication date: Thursday 25 November 2021

FTSE 100 at risk despite recent rebound

The FTSE 100 has been on the front foot over much of the past week, with price managing to push up through 7296 resistance in the process.

Unfortunately for bulls, we are not out the woods quite yet, with the recent break below 7256 bringing the potential for this current rebound to be a retracement of the selloff from 7405.

With that in mind, it is worthwhile being cautious given the risk of another turn lower. A break below 7244 would be required to bring about a more confident bearish short-term outlook.

Meanwhile, a rise through 7405 would be required to end this bearish phase.

UKX-4-hours-2021_11_25-08h51.pngSource: ProRealTime

DAX rebound finds Fibonacci resistance

The DAX has attempted to regain lost ground overnight, with price rising back towards the 16027 swing-high. A break up through that level would bring about a more reliable bullish signal.

However, given the fact that price has run into the 76.4% Fibonacci resistance level at 15959, there is a good chance we continue this recent trend of lower highs by reversing lower here.

DAX-4-hours-2021_11_25-08h53.pngSource: ProRealTime

CAC rises into near-term resistance level

The CAC has managed to rise up into the 7090 resistance level this morning, bringing an end to the intraday pattern of lower highs.

We are seeing some selling pressure come into play here, which highlights the potential for another move lower to continue the recent selloff. However, the push through trendline resistance does show a potential that we could soon see price break higher.

A push up through 7090 would be required for that resurgence to come into play.

PXI-4-hours-2021_11_25-09h09.pngSource: ProRealTime
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Indices fall sharply on new Covid variant

Stock markets are already struggling with thin liquidity but the news out of South Africa has sparked a major move to the downside.

bg%20indices%20jse%20ftse%20972520.jpgSource: Bloomberg
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Friday 26 November 2021 

FTSE 100

Hopes of a continued recovery in the FTSE 100 have been dashed as the new Covid variant spooks markets.

The price has dropped sharply, moving below the 50-day simple moving average (SMA) of 7194 for the first time and reviving the downward move from 7400.

Thin liquidity may well amplify the move, and bring 7100 and then the 200-day SMA at 7037 into view.

FTSE_261121.pngSource: ProRealTime

DAX

The new Covid variant has turned a modest pullback into something more serious for the DAX, driving the price down below the 100- and 50-day SMAs (15,686 and 15,661 respectively).

Further declines target the 200-day at 15,414, and then down towards the vital 15,000 area, which saw buyers emerge several times this year.

DAX_261121.pngSource: ProRealTime

Dow

US futures were ticking higher overnight until the Covid variant news struck, and this has seen the Dow fall to its lowest level in around six weeks.

The price has returned to the 50-day SMA at 35,301, filling the gap between the two that had been so evident earlier in the month. Additional declines target 34,560 and then the 200-day SMA at 34,406, and then 33,900.

Dow_261121.pngSource: ProRealTime
 
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Indices make headway in early trading

Dip buyers have stepped in after Friday’s losses, but can they keep the recovery going?

BG_london_stock_exchange_LSE_ftse_321+89Source: Bloomberg
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Monday 29 November 2021 

FTSE 100

The gap up overnight has seen the FTSE 100 rally from the 200-day simple moving average (SMA) of 7039 and push on back towards the 100-day SMA at 7140.

It will be important to see if any gap filling occurs and whether this still sees the price holding above Friday’s lows. Further gains target last week’s highs at 7300 as an initial target.

ftse_2911121%20(1).pngSource: ProRealTime

DAX

The price has moved back to the 200-day SMA at 15,419, some 400 points up from Friday’s low. Having achieved this, we wait to see if buyers can stem any weakness and avoid a return towards last week’s low.

Short-term trendline resistance around 15,730 is an initial target in any move higher.

DAX_291121.pngSource: ProRealTime

S&P 500

After plunging in Friday’s shortened session, the price has come storming back, targeting 4700 and higher if the bullish momentum can be sustained.

Sellers would look for a reversal back below 4600 that would put Friday’s lows back into play, although even here the 50-day SMA at 4538 looms large.

SPX_291121.pngSource: ProRealTime
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FTSE, DAX, and Dow slump back into key support zone

The FTSE, DAX, and Dow on the back foot once again after the Moderna warnings that the vaccine may be inadequate against Omicron. However, price has now returned to a key support zone.

bg_dax_365338748.jpgSource: Bloomberg
 Joshua Mahony | Senior Market Analyst, London | Publication date: Tuesday 30 November 2021 

FTSE 100 tumbles back into 76.4% Fibonacci support

The FTSE 100 has seen another sharp move lower this morning, in part due to the comments from the Moderna CEO that their vaccine will be less effective against the Omicron strain.

This has taken price back down into the 76.4% Fibonacci support level of 6964. A break below that threshold would signal a potential move back down into the 6827.

However, until that happens, there is a good chance we see price start to stabilise around these levels.

UKX-4-hours-2021_11_30-08h09.pngSource: ProRealTime

DAX volatility returns as price falls towards 14813 support level

The DAX has seen another sharp move lower this morning, with price dropping to a seven-week low.

A decline through the 14813 support level established in early October would bring about a wider bearish outlook.

Meanwhile, a rise up through the 15465 level would bring a fresh bullish picture into play.

DAX-4-hours-2021_11_30-08h15.pngSource: ProRealTime

Dow on the back foot once again

The Dow has been hit hard once again this morning, with price falling back below the 61.8% support level.

From a wider perspective, we are also back into the 200-day simple moving average (SMA) which explains why price appears to be finding support at a random position between the Fibonacci levels. A decline through this zone brings the 76.4% level into play (34248).

Ultimately, the wider uptrend does still remain intact until price falls back below the 33531 support level.

DJI-4-hours-2021_11_30-03h23.pngSource: ProRealTime
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Indices make headway after volatile start to the week

After a choppy start to the week, indices have made headway, pushing higher in early trading.

bg%20ftse%20100%20london%20stock%20exchaSource: Bloomberg
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Wednesday 01 December 2021

FTSE 100

Two dips into the 7000 area found buyers, and now the FTSE 100 is rebounding towards yesterday’s peak at 7160.

If it can clear this then a more bullish view may yet emerge, bringing the 7310 peak from 25 November into view once more.

Alternately a fresh decline looks to test 7000 once again.

FTSE_011221.pngSource: ProRealTime

DAX

The index faces steep obstacles in the form of short-term trendline resistance from Monday’s peak, and then one closer to 15,600, as it confronts trendline resistance from the November high, should it even get that far.

A resumption of the downward move from 15,280 would bring 15,000 back into view.

DAX_011221.pngSource: ProRealTime

S&P 500

The price has rallied once again from 4560, but now faces the lower high at 4670, and then at 4690, where trendline resistance comes into play.

The consolidation phase may yet run for a while, but a more bearish view would require a close below the lows of the past week at 4560.

SPX_011221.pngSource: ProRealTime
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FTSE, DAX, and Dow volatility holds as markets remain news driven

The FTSE, DAX, and Dow volatility continues, with Omicron news expected to drive sentiment going forward.

bg%20ftse%20100%20stock%20exchange%20203Source: Bloomberg
 Joshua Mahony | Senior Market Analyst, London | Publication date: Thursday 02 December 2021

FTSE 100 turning higher as market volatility continues

The FTSE 100 is turning upwards once again this morning, with the index continuing to consolidate after the recent slump into the 76.4% Fibonacci support level (6963).

The ability to remain above that level is going to be key here, although we would ultimately require a drop below 6827 to bring a signal that the wider bullish trend is reversing.

Until then, markets are likely to remain highly news sensitive which brings further volatility.

UKX-4-hours-2021_12_02-08h33.pngSource: ProRealTime

DAX struggling for direction after recent selloff

The DAX has been seeing a general lack of direction over the course of the week, with the index waiting for that next major move to occur.

We appear stuck within a period of consolidation for now, with a break below the 14813 signalling the beginning of a wider bearish phase for the index.

Until then, we await a break from this consolidation phase to guide us on where we go from here.

DAX-4-hours-2021_12_02-08h47.pngSource: ProRealTime

Dow hit hard, with price closing in on critical support zone

The Dow has been hit hard after news of a first US Omicron case yesterday.

The key here is whether we see price break below the 33531 low established back in early-October.

The intraday trend of lower highs does signal the potential for further downside, with a rise through 35004 required to negate that bearish pattern.

DJI-4-hours-2021_12_02-03h58.pngSource: ProRealTime
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Indices show signs of bouncing

After losses earlier in the week indices have stabilised.

BG_london_stock_exchange_LSE_ftse_321+89Source: Bloomberg
 Chris Beauchamp | Chief Market Analyst, London | Publication date: Friday 03 December 2021

FTSE 100

A hard-fought battle around the 200-day simple moving average (SMA) at 7050 looks to have created a higher low for the FTSE 100, and with the price back at the vital 7165 area a break to the upside may be in progress.

This would put 7300 and then 7400 into view as near-term targets. The bullish view would be challenged by a loss today, but only a close below 7000 really signals that the sellers are in charge.

FTSE_031221.pngSource: ProRealTime

DAX

The price remains below the 200-day SMA at 15,447, with gains petering out as this level is reached. However buyers have managed to hold 15,000, and have seen a steady, if small, recovery over the previous two sessions.

A recovery above 15,500 would help to suggest the low is in while sellers will need to push the price back below 15,000 to provide a bearish outlook.

DAX_031221.pngSource: ProRealTime

S&P 500

Ultimately what the other indices above do will be determined by the S&P 500, but there are some signs of stabilisation here as well. The price is back above the 50-day SMA at 4551, and is managing to move higher for a second day in early trading this morning.

The sequence of intraday lower highs and lower lows seems to have paused for now, and we wait to see if this turns into one of higher highs and higher lows.

SPX_031221.pngSource: ProRealTime
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