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Market Watch: FTSE, DAX, S&P Showing Limited Movement

FTSE DAX S&P limited movement

Global markets remain steady, with the FTSE 100, DAX 40, and S&P 500 showing limited movement amid cautious investor sentiment.

In a week marked by cautious investor sentiment, major global stock indices, including the FTSE 100, DAX 40, and S&P 500, exhibited limited movement following recent market dynamics.

FTSE 100 Muted After Friday’s Sell-Off

The FTSE 100 experienced a brief ascent to nearly a three-month high at 7,725 last week, only to retreat to the 200-day simple moving average (SMA) at 7,561. Despite the Bank of England (BoE) maintaining UK rates, three of nine voting Monetary Policy Members (MPC) opted for a further rate hike.

Should the index fall below Friday’s low of 7,547, the mid-November and early December highs between 7,543 and 7,535 could come into play. Resistance is now anticipated around the 7,600 mark, just above the December 8th high at 7,583.

Current sentiment for FTSE 100: BULLISH

Market Watch: FTSE, DAX, S&P Showing Limited Movement

DAX 40 Levels Off After Record High

Following six consecutive weeks of gains that propelled the DAX 40 to a record high near 17,000, the index has shown signs of leveling out. Investors will closely watch German Ifo business climate sentiment and Gfk consumer confidence later in the week.

Key support levels lie beneath the October-to-December uptrend line at 16,722 and last week’s low at 16,661, with a solid support zone at the July peak of 16,532. The market identifies resistance levels at the December 11th high of 16,827 and the Friday high of 16,890, preceding last week’s peak at 17,003.

S&P 500 Flatlines Amid Low Volatility Trading

The S&P 500, which surged on rate cut expectations, is now experiencing low volatility, trading below last week’s near two-year high of 4,739. The index remains relatively stable despite the convergence of the ‘triple witching’ of $5 trillion in expiring options and the S&P 500 and the Nasdaq 100 index-rebalancing.

While Thursday’s low at 4,694 serves as a support level, the November and mid-December 2021 highs between 4,743 and 4,752 are within sight. Further upside potential includes the record high from January 2022 at 4,817. Investors expect downside support at the March 2022 peak of 4,637, and the medium-term uptrend will persist as long as the recent lows at 4,544 to 4,537 remain intact.

Investors are navigating uncertainties in the global market, closely monitoring these key indices for potential shifts in market dynamics in the coming days.

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