Global Market Indices Daily Forecast – May 25, 2017

Global stocks are trading higher on Thursday after Wall Street set new records yesterday when the S&P 500 closed at 2404.04, it’s best closing ever. Asian markets closed trading session mostly higher in respond to the Fed meeting minutes. European shares opened the trading day higher, however, the sentiment switched and European shares are currently mixed.

DAX 30

The DAX index continues to consolidate within a tight range, something that we had mentioned in our forecast yesterday. This ranging is happening with no danger of the index moving to either side quickly and so is expected to last for the short term. The minutes from the FOMC did not do much to shake up the markets and so we can expect the consolidation to continue for today as well… Read More

S&P 500

The S&P 500 was reasonably quiet during the session on Wednesday as we are approaching a major resistance barrier and of course a large, round, psychologically significant number. The market has seen prices as high as 2405, so the market breaking above there is a very strong sign and the market should continue to go to the 2450 handle. This is a market that has wiped out a significant amount of the panic selling that we saw after the Donald Trump and Russia, so that being the case I think that there is still plenty of bullish pressure underneath… Read More

FTSE 100

The FTSE 100 initially gapped lower at the open on Wednesday, but found enough support near the 7475 level to bounce and continue to go higher. We are currently churning around the 7500 level in general, so I think we are trying to build up enough momentum to finally break out to the upside and continue the longer-term uptrend. We have seen a lot of volatility as of late, and this should continue to be the case as there are going to be a lot of headlines and comments coming out of Great Britain and the European Union regarding the United Kingdom leaving the EU… Read More