FTSE 100, CAC 40, S&P 500 Analysis and Charts

​​​FTSE 100 to end the week on a positive note

​​The FTSE 100’s gradual advance from last week’s six-week low at 7,403 has taken it to the 55- and 200-day simple moving averages (SMA) at 7,557 to 7,571 as UK consumer confidence hit a two-year high in January.​The moving averages may act as resistance, though, but a rise above 7,571 would target the 8 January low at 7,635.

​Potential slips below Wednesday’s 7,539 high may find support between last Friday’s and Tuesday’s highs at 7,523 to 7,527.

FTSE 100 Daily Chart

Retail trader data shows 62.56% of traders are net-long with the ratio of traders long to short at 1.67 to 1. The number of traders net-long is 11.20% lower than yesterday and 20.78% lower than last week, while the number of traders net-short is 21.01% higher than yesterday and 37.42% higher than last week.

See What This Means:

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​CAC 40 receives lift from ECB press conference

​The French CAC 40 stock index rallied on Thursday as the European Central Bank (ECB) maintained its status quo and left rates unchanged with the index hitting a near one-month high at 7,530. Above it beckons the late December to early January resistance area from 7,606 to 7,616.

​Support can now be found between 8 to 15 January highs at 7,494 to 7,487. Further support lies between last Friday’s and Wednesday’s highs at 7,468 to 7,450.

CAC 40 Daily Chart

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​S&P 500 consolidates below record highs

​The S&P 500’s advance is beginning to lose upside momentum below its record high around the 4,900 mark as Intel’s earnings disappoint and the company’s share price drops by over 10% in after-hours trading. ​Minor support below Monday’s 4,868 high can be spotted between last Friday’s high and Tuesday’s lows at 4,845 to 4,844.

​A rise above this week’s 4,903 record high would engage the psychological 5,000 mark.

S&P 500 Daily Chart