FTSE 100 Hits High, DAX 40 Flags, S&P Awaits

Stay updated on the FTSE 100 ascent, DAX 40 fatigue, and S&P 500’s anticipation with our market analysis. US employment data awaits.

Today, the FTSE 100 continues its upward momentum in the financial markets, striving to reach a six-week high. At the same time, the DAX 40 exhibits signs of bullish fatigue, and the S&P 500 awaits crucial US employment data.

FTSE 100 Analysis

The FTSE 100 is on an upward trajectory, aiming for the recent six-week high at 7,543 as traders anticipate the release of US non-farm payroll data. The index maintains upside pressure, supported by the 55-day simple moving average (SMA) and Thursday’s low at 7,480 to 7,476. Above 7,543, attention shifts to the 200-day SMA at 7,567. Critical support lies at Tuesday’s low of 7,459.

• Bullish sentiment prevails, with a daily change in longs at -15 %, shorts at 24%, and open interest (OI) at 1%.
• Weekly trends show a 15% change in longs, 14% in shorts, and -4% in OI.

FTSE 100 Hits High, DAX 40 Flags, S&P Awaits

DAX 40 Analysis

The DAX 40’s remarkable 14% climb since October shows signs of slowing, experiencing bullish fatigue ahead of the US unemployment data. Despite reaching a new all-time high above 16,532, caution prevails as traders adopt a wait-and-see approach. Immediate support is noted below Thursday’s low at 16,594, with further support at Wednesday’s 16,544 and last Friday’s 16,463.

S&P 500 Outlook

The S&P 500, having touched 4,599 last week, remains close to the July peak at 4,607. The index awaits the release of US unemployment data, with the recent uptrend intact as long as this and last week’s lows at 4,544 to 4,537 hold. A bullish breakout may target the March 2022 peak at 4,637, with immediate support at the November 22 high 4,569. Conversely, a failure at 4,544 to 4,537 could lead to a target of 4,516, the mid-September high.

As global markets navigate economic data and shifting trends, the FTSE 100 demonstrates strength, the DAX 40 experiences a potential slowdown, and the S&P 500 remains cautiously optimistic, with all eyes on the upcoming US employment figures. Investors must monitor critical levels and market sentiment for strategic decision-making.

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