FTSE 100 Struggles while DAX 40 Rises and S&P 500 Trades at Record Highs\u200b\u200b\u200b

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

\u200b\u200b\u200bFTSE 100 struggles to recover

\u200bThe FTSE 100, which last week fell to a six-week low at 7,403 on pared-back rate cut expectations, is having difficulties in regaining recently lost ground and so far hasn’t managed to overcome the 7,500 mark on a daily chart closing basis.

\u200bAbove Friday’s 7,523 high beckon the mid-November and early December highs at 7,535 to 7,543 but together with the 55- and 200-day simple moving averages (SMA) at 7,561 to 7,564 might prove difficult to break through.

\u200bMinor support below Monday’s 7,476 low lies at the 5 December 7,459 low ahead of last week’s 7,403 trough.

FTSE 100 Daily Chart

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\u200bDAX 40 on track for third straight day of gains

\u200bThe DAX 40 index is in the process of breaking through its January resistance line at 16,670 with the 8 January high at 16,785 and the more significant 11 and 15 January highs at 16,792 to 16,841 representing upside targets.

\u200bMinor support below Monday’s 16,638 low can be spotted around Wednesday’s high and the lows from a couple of weeks ago at 16,543 to 16,517.

\u200bFurther down lie the early January and last week’s low at 16,444 to 16,344.

DAX 40 Daily Chart

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\u200bS&P 500 trades in new all-time record high

\u200bThe S&P 500 last week rallied to a new all-time record high amid stronger-than-expected University of Michigan consumer sentiment which saw its highest reading since July 2021.

\u200bThe psychological 5,000 mark is thus in focus and may be reached over the coming weeks and months.

\u200bSupport sits at Monday’s 4,848 to 4,844 price gap and also at the index’s January 2022 previous record high at 4,817.

S&P 500 Daily Chart