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FTSE 100, DAX 40, S&P 500 Analysis and Charts
- FTSE 100 in recovery mode
- DAX 40 resumes its ascent after Tuesday’s pause
- S&P 500 once more trades at new record highs
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FTSE 100 in recovery mode
The FTSE 100’s gradual advance from last week’s six-week low at 7,403 on pared-back rate cut expectations has been helped by mining stocks rallying as optimism over demand from China pushed iron ore prices higher. A rise above Tuesday’s 7,527 high has the mid-November and early December highs at 7,535 to 7,543 and also the 55- and 200-day simple moving averages (SMA) at 7,560 to 7,565 in its sights.
Minor support below Wednesday’s 7,498 intraday low sits at Tuesday’s 7,466 low ahead of the 5 December 7,459 low and last week’s 7,403 trough.
FTSE 100 Daily Chart
| Change in | Longs | Shorts | OI |
| Daily | -10% | 11% | -5% |
| Weekly | -13% | 6% | -8% |
DAX 40 resumes its ascent after Tuesday’s pause
The DAX 40 index continues its advance, having briefly paused it on Tuesday, and approaches the 8 January high at 16,785 with the more significant 11 and 15 January highs at 16,792 to 16,841 representing further upside targets ahead of Thursday’s European Central Bank (ECB) meeting.
Minor support below Wednesday’s 16,674 intraday low can be seen at Friday’s 16,657 high and then at Thursday’s high and Tuesday’s low at 16,630 to 16,623.
DAX 40 Daily Chart
S&P 500 once more trades in new record highs
The S&P 500 continues its advance into new record high territory following Netflix earnings, the first of the ‘magnificent seven’ to report, which showed a new record subscriber count in the fourth quarter, better-than-expected revenue and a strong earnings guidance for the current quarter. The psychological 5,000 mark remains in focus and may be reached over the coming weeks and months but first, the minor psychological 4,900 level needs to be exceeded.
Minor support sits at Monday’s 4,868 high and more significant support between Friday’s high and Tuesday’s low at 4,845 to 4,844.
S&P 500 Daily Chart
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