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

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​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

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​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