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Global markets had a strong day yesterday after a very lacklustre start from the European markets. US stock markets set new records as investors’ confidence in the economic recovery became more apparent with the Dow hitting an all-time intraday high of 16998, before closing at a record close of 16956. The US S&P500 index also closed at an all-time high of 1973. This morning has again seen a positive start after the Asian markets once again pushed on from there six-year highs overnight.
The UK UK Index made some headwind yesterday as it attempted to regain the highs of last week. It’s still in the sideways trend that has been in place for the last few months, however yesterdays positive finish and the strong US markets could help the UK Index 100 to record it own new all-time highs. The next test for the UK Index will be the recent highs of 6840 before a push towards the 6880’s.
Germany’s DAX much like the UK Index 100 is continuing it’s sideways trend, having struggling to keep up the momentum that saw it making new highs last month. But with the US markets setting new records and Asian markets at 6 years highs the DAX may yet see another attempt at all-time highs.
The US Dow Jones futures are pointing to yet another positive open today as we look to see if it can manage 17000 for the first time in its history. An intraday high of 16998 was the closest it came yesterday before pulling back towards the close. With non-farm payrolls due to be released a day early (tomorrow) another all time high could well be set. However, a poor number could dent confidence.
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Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
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Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
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