FTSE 100 Hits New Peaks; DAX 40 and S&P 500 Follow

By Daniel M.

May 15, 2024   •   Fact checked by Dumb Little Man

FTSE 100 Reaches New Record High

Source: ProRealTime

The FTSE 100 achieved another record high, approaching the critical 8,500 level, fueled by anticipation of the upcoming US CPI data. The index is supported by the April-to-May uptrend line at 8,432, which could be pivotal if tested again.

DAX 40 Approaches Record Levels

Source: ProRealTime

The DAX 40 is close to surpassing its recent record high set last week near 18,850, with the next significant milestone at the 19,000 mark. The index remains buoyed by support from Tuesday’s low at 18,623, with additional support at last Friday’s low of 18,712 and the previous record high in April at 18,636.

S&P 500 Nears Previous Highs

Source: ProRealTime

The S&P 500’s surge from early May lows is driving it towards its April record high of 5,274, just ahead of the highly anticipated US CPI data release. Beyond this point, the 5,300 level is the next target. A nascent uptrend line from May at 5,216 provides support, coupled with additional support at Tuesday’s low of 5,194.

Daniel M.

Daniel Moore is a seasoned trading analyst with over 20 years of experience navigating the ever-evolving financial landscape. Renowned for his unconventional yet effective approach, Daniel utilizes a blend of technical and fundamental analysis to identify hidden gems and craft winning trade strategies. He is a master at demystifying complex market data and translating it into actionable insights for traders of all experience levels.

Getting Started with Forex

Other Dating Guide

Individual Reviews