Major Indices Analysed
- FTSE 100 achieves a new all-time high
- DAX within reaching distance of record high
- S&P 500 makes gains ahead of US CP
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FTSE 100 makes yet another record high
The FTSE 100 made yet another record high, getting ever closer to the psychological 8,500 mark as investors are eagerly awaiting the US CPI print. Upside pressure will be maintained while the April-to-May uptrend line at 8,432 underpins on a daily chart closing basis. This uptrend line may be revisited, however.
FSTE 100 Daily Chart
Source: ProRealTime, prepared by Axel Rudolph
DAX 40 nears its record high
The DAX 40 once again nears its new record high, made last week around the 18,850 mark, a rise above which would engage the minor psychological 19,000 mark.
Immediate upside pressure should remain in play while Tuesday’s low at 18,623 underpins.
Minor support above this level can be found at Friday’s 18,712 low and at the previous record high, made in April at 18,636.
DAX Daily Chart
Source: ProRealTime, prepared by Axel Rudolph
S&P 500 is seen heading back up towards its April record high
The S&P 500’s rally from its early May low has taken it towards its April record high at 5,274 ahead of Wednesday’s widely anticipated US CPI data release. Above 5,274 lies the 5,300 region.
The tentative May uptrend line at 5,216 offers support ahead of Tuesday’s 5,194 low.
S&P 500 Daily Chart
Source: ProRealTime, prepared by Axel Rudolph
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