FTSE 100 and Nikkei 225 higher, but S&P 500 rebound stalls
FTSE 100 in recovery mode
The FTSE 100 index continues to recover from its low on Monday, rallying back above 8000 yesterday and moving higher in early trading.
Further gains target the August high at 8400, and then on to the record high from May just below 8500. A close above the June and July support level around 8140 bolsters the bullish view, while a reversal back below 8040 would negate this view for the time being.
S&P 500 struggles to push higher
A more modest bounce has been seen here over the last few days, with the S&P 500 price rebounding off the lows but struggling to make further progress.
A close above 5300 would help to support a bullish view, and provide further indications that a low has been formed. Sellers will be watching for a move back below 5200 that will indicate that a new move lower towards 5100 could be at hand.
Nikkei 225 rebounds above 35,000
The Nikkei 225 index has rallied once more, after an indecisive session on Tuesday.
While it remains heavily oversold, it has managed to move back above 35,000. Further gains target the April low at 36,707 , and then the late May low at 37,660. A turn lower below 37,000 risks the creation of a lower high and renewed bearish momentum.