Market Index Movements: FTSE 100 Stagnates, S&P 500 Rises, Nikkei 225 Declines
FTSE 100 Hits a Barrier
The FTSE 100 saw a surge yesterday, but momentum fizzled out in early Tuesday trading.
While it has struggled to sustain a rally, the price has remained above 8100 since May, serving as a solid support level. A close below 8100 could lead to a swift decline, targeting 8044 and then dropping to 7976.
S&P 500 Shows Resilience
On Monday, the S&P 500 rebounded following three consecutive days of losses last week.
The recovery from 5500 now aims for the previous week’s highs, potentially setting the stage for new record highs. However, a close below 5500 would indicate likely short-term weakness.
Nikkei 225 Sees Downturn
The rally on Monday hinted at renewed upside potential, but that momentum has stalled.
The index dropped overnight but has so far avoided closing below the 50-day simple moving average (SMA). Bulls need a close above 40,000 to suggest a low might be in place, while a close below the 50-day SMA would indicate further near-term downside.
