FTSE 100 back in negative territory, DAX and S&P 500 come off highs​​​

Article written by IG Senior Market Analyst Axel Rudolph

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

​​​FTSE 100 back in negative territory year-to-date

​The FTSE 100 is on track for its fifth consecutive day of losses. It has been slipping since last Friday’s five-week high and is expected to open lower as Asian indices decline because hawkish central banks weigh on sentiment.Thursday’s low at 7,457 is within reach, a fall through which will put the May low at 7,433 back on the map.

​Only a bullish reversal and rise above Wednesday’s low at 7,518 could put the 200-day simple moving average (SMA) at 7,553 back on the cards. While remaining below it, further downside is likely to be seen.

FTSE 100 Daily Price Chart

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​DAX 40 on track for fifth day of losses

​The DAX 40 has come off Friday’s new all-time record high as investors fret about the impact higher interest rates will have on the economy. The index is on track to decline for a fifth consecutive day and nears Thursday’s low at 15,810. ​A slip through it would push the 26 May low at 15,723 to the fore, below which sits key support between the May-to-June lows at 15,659 to 15,625.

​Resistance above the 55-day simple moving average (SMA) at 15,948 can be seen at Wednesday’s trough at 15,986.

​DAX 40 Daily Price Chart

​S&P 500 continues to drift lower

​The S&P 500 has been declining from its 14-month high at 4,447 for the past five consecutive days on risk-off sentiment. ​

​Failure at Thursday’s 4,349 low would engage the 4,336 mid-June low, below which lies the early June high at 4,300.

​​Minor resistance is to be found around the minor psychological 4,400 mark and at Tuesday’s high at 4,405.

S&P 500 Daily Price Chart