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With the US markets closed for independence day today we should expect a lacklustre trading session with a pause for breath after yesterdays excitement. A much better than expected non-farm payroll number from the US and drop in unemployment saw the Dow enter the 17000’s for the first time in its history. After both the Dow and S&P500 closed at new all-time highs the Asian markets took up the baton with a strong trading session that saw them post their longest run of weekly gains since 2012. Positive comments from ECB president Mario Draghi helped sentiment in Europe with the Dax again testing all-time highs and the also UK Index threatening all-time highs.
The UK UK Index is threatening to join the US and German markets in recording new highs after some strong US jobs data yesterday gave it a boost. The UK 100 failed to hit the highs of 6880 that we saw in early June, stopping about 10 points short. A flat trading day seems likely today with the US markets closed for Independence day.
Germany’s DAX stopped just shy of its all-time highs of 10048 yesterday after US non-farm payroll data and Mario Draghi’s comments gave the global markets a boost. Much like the UK Index 100, today could be a lacklustre day of trading with a lack of data due for release, traders may sit on their hands over the weekend.
The US Dow Jones continues to push forward recording yet another all-time high yesterday after strong non-farm payroll data. The 17000 level was broken and with a close above this level we ask where next? US companies are due to start reporting their half year figures next week, we could see the Dow reacting to the results. The Dow futures are not surprisingly flat this morning with the cash markets being closed for independence day.
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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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