FTSE 100 mixed
Following eight straight days of gains for the FTSE 100, as rate cut expectations on both sides of the Atlantic remain firmly in play, Friday saw some end-of-week profit taking. Monday morning sees quiet trading amid a near-empty economic calendar. Resistance is seen at last week’s 8,369 high, above which beckon the late July and early August high at 8,404.
The 8,278 mid-July high offers minor support ahead of the 55-day simple moving average (SMA) at 8,215.
FTSE 100 Daily Chart
| Change in | Longs | Shorts | OI |
| Daily | -21% | 12% | 1% |
| Weekly | -25% | 18% | 2% |
DAX 40 remains bid
The DAX 40’s swift recovery from last week’s 17,021 low has taken it close to the July-to-August resistance line at 18,372 which may cap the advance on Monday. If not, the late July high at 18,580 would be next.
Minor support can be seen along the 55-day simple moving average (SMA) at 18,247 ahead of the 9 July low at 18,211.
DAX40 Daily Chart
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S&P 500 sees strongest week since November 2023
The S&P 500’s steep rally from its 5 August low at 5,091 has taken it back to its early August high at 5,564 around which it may short-term pause. If not, the July peak at 5,669 will be next in line.
The 55-day simple moving average (SMA) breached the July-to-August downtrend line at 5,467-to-5,462 and may act as support if they were to be revisited.
S&P 500 Daily Chart
