While the FTSE 100 and Russell 2000 Struggle, the DAX 40 Ploughs Ahead


FTSE 100, DAX 40, Russell 2000 – Analysis and Charts

​​​FTSE 100 remains under pressure

​The FTSE 100 slid to 7,402 on Tuesday despite stocks like Rolls-Royce rising by +6.2% after setting more ambitious targets for cash flow and return on capital by 2027. ​Together with the October-to-November uptrend channel support line at 7,400, Tuesday’s low offers support. A slip through it could lead to the early September and early October lows at 7,384 to 7,369 being reached, though.

​For the bulls to re-assert control, even on a short-term basis, a rise and daily chart close above Tuesday’s high at 7,465 needs to be seen. Further potential resistance can be found along the 55-day simple moving average (SMA) at 7,502.

FTSE100 Daily Chart

Retail trader data shows 72.46% of traders are net-long with the ratio of traders long to short at 2.63 to 1. The number of traders net-long is 2.23% higher than yesterday and 11.06% higher than last week, while the number of traders net-short is 1.07% lower than yesterday and 13.28% lower than last week.

See How Daily and WeeklyChanges Affect Price Action




of clients are net long.




of clients are net short.

Change in Longs Shorts OI
Daily -1% 4% 0%
Weekly 10% -12% 3%

DAX 40 trades back above the 16,000 mark

​The DAX 40 has risen back above the psychological 16,000 mark despite German consumer morale remaining weak ahead of Germany’s consumer price index, out on Wednesday.​The August and September highs at 15,992 to 16,044 represent a short-term resistance zone. If exceeded, the early and mid-July highs at 16,187 to 16,211 would be next in line.

​Minor support is seen along the October-to-November uptrend line at 15,946 and at Tuesday’s 15,913 low. While it underpins, the steep medium-term uptrend remains intact.

DAX 40 Daily Chart

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Russell 2000 still range trades below its 1,833 current November high

​The Russell 2000, the great underperformer of US stock indices with only a 2.4% positive performance year-to-date, has been trading in a tight sideways range below its 200-day simple moving average (SMA) and the mid-November high at 1,818 to 1,833 for the past couple of weeks. ​While Thursday the 21 low at 1,767 underpins, the October-to-November uptrend remains intact. If slipped through, though, a drop towards the 55-day simple moving average (SMA) at 1,752 may ensue.

​Immediate resistance can be seen at Fridays and the week before 1,811 to 1,813 highs. ​A rise above the current 1,833 November high would engage the mid-September high at 1,874.

Russell 2000 Daily Chart





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