FTSE 100 recent market movements of major indices , CAC 40, and S&P 500 reflect a nuanced landscape characterized by consolidation and potential shifts in momentum. Here’s a closer look at each index:

FTSE 100

• The FTSE 100 experienced a swift rally, propelled by positive earnings, softer UK inflation, and stronger-than-expected retail sales.
• After reaching a six-week high of 7,742, the index’s upside momentum is diminishing as it approaches the September peak at 7,747.
• Minor support levels include the early February high of 7,710 and the psychological level of 7,000, along with Monday’s low at 7,690.

CAC 40

• The French CAC 40 index is attempting to reclaim ground towards last week’s record high of 7,801.
• Despite dipping to 7,728 on light volume during Monday’s session, the index’s bullish outlook remains intact.
• Support levels to watch include the January high of 7,704 and the December peak of 7,653, both of which may provide support in the future.

S&P 500

• The S&P 500 witnessed consolidation below the psychological level of 5,000 after hitting a record high of 5,049 earlier in February.
• The index maintains upside pressure, supported by the 2024 uptrend line at 4,974.
• However, the recent highs at 5,043 to 5,049 may pose resistance to future attempts at establishing new all-time highs.

Retail Trader Sentiment

• IG retail trader data shows mixed sentiment across the indices. For example, 13.56% of traders are net-long on the CAC 40, with a ratio of traders short to long at 6.38 to 1.
• The S&P 500 also reflects a mixed sentiment, with retail traders exhibiting fluctuations in their positions.

In conclusion, while the FTSE 100 loses upside momentum and the CAC 40 consolidates below record highs, the S&P 500 maintains its upward trajectory amidst consolidation. Market participants remain vigilant, closely monitoring key support and resistance levels to navigate through the evolving market conditions.