Positive Week for FTSE 100, CAC 40 and S&P 500
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<h2>FTSE 100, CAC 40, S&P 500 Analysis and Charts</h2>
<p><span></span><span>FTSE 100</span><span> to end the week on a positive note</span></p>
<p>The FTSE 100’s gradual advance from last week’s six-week low at 7,403 has taken it to the 55- and 200-day simple moving averages (SMA) at 7,557 to 7,571 as UK consumer confidence hit a two-year high in January.The moving averages may act as resistance, though, but a rise above 7,571 would target the 8 January low at 7,635.</p>
<p>Potential slips below Wednesday’s 7,539 high may find support between last Friday’s and Tuesday’s highs at 7,523 to 7,527.</p>
<h2>FTSE 100 Daily Chart</h2>
<p><img fetchpriority="high" decoding="async" src="https://a.c-dn.net/b/0YpwWV/26012024UKX-Daily.png" alt="" data-image-original-width="1173" data-image-original-height="660" width="1173" height="660" class="dfx-lazyload" style="padding-bottom: calc(660 / 1173 * 100%);" /></p>
<p><span>Retail trader data shows 62.56% of traders are net-long with the ratio of traders long to short at 1.67 to 1. The number of traders net-long is 11.20% lower than yesterday and 20.78% lower than last week, while the number of traders net-short is 21.01% higher than yesterday and 37.42% higher than last week.</span></p>
<p><span>See What This Means:</span></p>
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<span><br />
<span data-stream-type="sentiment" data-market- data-value="–" data-type="long-value-info"><br />
</span><br />
<span>of clients are </span><span>net long.</span> </span><br />
<span><br />
<span data-stream-type="sentiment" data-market- data-value="–" data-type="short-value-info"><br />
</span><br />
<span>of clients are </span><span>net short.</span> </span>
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<table>
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Change in </td>
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Longs </td>
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Shorts </td>
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OI </td>
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<td>Daily</td>
<td>-32%</td>
<td>66%</td>
<td>0%</td>
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<td>Weekly</td>
<td>-39%</td>
<td>86%</td>
<td>-5%</td>
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<p><span>CAC 40</span><span> receives lift from ECB press conference</span></p>
<p>The French CAC 40 stock index rallied on Thursday as the European Central Bank (ECB) maintained its status quo and left rates unchanged with the index hitting a near one-month high at 7,530. Above it beckons the late December to early January resistance area from 7,606 to 7,616.</p>
<p>Support can now be found between 8 to 15 January highs at 7,494 to 7,487. Further support lies between last Friday’s and Wednesday’s highs at 7,468 to 7,450.</p>
<h2>CAC 40 Daily Chart</h2>
<p><img decoding="async" src="https://a.c-dn.net/b/0H5vvR/26012024PXI-Daily.png" alt="" data-image-original-width="1173" data-image-original-height="660" width="1173" height="660" class="dfx-lazyload" style="padding-bottom: calc(660 / 1173 * 100%);" /></p>
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<p><span></span><span>S&P 500</span><span> consolidates below record highs</span></p>
<p>The S&P 500’s advance is beginning to lose upside momentum below its record high around the 4,900 mark as Intel’s earnings disappoint and the company’s share price drops by over 10% in after-hours trading. Minor support below Monday’s 4,868 high can be spotted between last Friday’s high and Tuesday’s lows at 4,845 to 4,844.</p>
<p>A rise above this week’s 4,903 record high would engage the psychological 5,000 mark.</p>
<h2>S&P 500 Daily Chart</h2>
<p><img decoding="async" src="https://a.c-dn.net/b/4DQynC/26012024SPTRD-Daily.png" alt="" data-image-original-width="1173" data-image-original-height="660" width="1173" height="660" class="dfx-lazyload" style="padding-bottom: calc(660 / 1173 * 100%);" /></article>
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<br /><a href="https://www.dailyfx.com/analysis/positive-week-for-ftse-100-cac-40-and-s-p-500-20240126.html">Source link </a></p><p>The post <a href="https://forextraderhub.com/positive-week-for-ftse-100-cac-40-and-sp-500.html">Positive Week for FTSE 100, CAC 40 and S&P 500</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>
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