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

​​​FTSE 100 remains side-lined

​The FTSE 100 continues to range trade but is seeing a series of lower highs along the 55-day simple moving average (SMA) at 8,263 which this week acted as resistance. On the flip side, the May-to-July lows at 8,138 to 8,106 continue to act as solid support.

​The July highs at 8,270 to 8,287 need to be overcome, for the late June peak at 8,314 to be reached. Similarly, a fall through and daily chart close below the 8,106 early July low may lead to the early- April-to-early-May lows at 8,095 to 8,017 being revisited.

FTSE100 Daily Chart

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​DAX 40 sees four straight days of losses

​The DAX 40’s advance to last Friday’s 18,782 high, made close to the 18,786 early June peak, has been followed by four consecutive days of losses with perhaps a fifth being seen today with the 9 July low at 18,211 representing a possible downside target.

​Minor resistance can be spotted along the 55-day simple moving average (SMA) at 18,475.

DAX 40 Daily Chart

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​S&P 500 comes off its record high

​The S&P 500 is starting to come off its 5,669 record high and has now fallen through its May-to-July uptrend line which, because of inverse polarity, should now act as a resistance line at 5,594.

​So far the 5,524 June high has acted as support but below it lies the 24 June low at 5,446 which may also act as support in the days to come.

​Above the 5,669 all-time high lies the psychological 5,700 mark.

S&P 500 Daily Chart