Technical analysis for 15th January 2026
FTSE100 Bias
- BIAS: BULLISH (LEADER, BUT WATCHING ACCEPTANCE)
- Outlook
- Price is holding above the 10,000 area, which keeps the trend constructive.
- Structure remains higher highs / higher lows.
- Momentum is positive, but the market is no longer early in the move.
- How to treat FTSE today
- Favour longs
- Buy pullbacks, not breakouts late in the move
- Expect pauses and rotations
- Only turn cautious if price accepts back below ~9,980–10,000
- Tone: Bullish, but selective rather than aggressive.
S&P500 Bias
- BIAS: STRONG BULLISH (GLOBAL ANCHOR)
- Outlook
- Holding above key daily averages.
- No lower highs, no volatility expansion.
- Typical grind-higher regime remains intact.
- How to treat S&P today
- Trend-following longs
- Buy pullbacks
- Shorts only valid on a clear daily reversal (not present)
- Tone: Calm, supportive, risk-on.
DAX40 Bias
- BIAS: BULLISH CONTINUATION (CONFIRMING MARKET)
- Outlook
- Trend remains clearly bullish on higher timeframes.
- Pullbacks are still controlled and corrective.
- No structural signs of distribution.
- How to treat DAX today
- Buy dips
- Expect consolidation near highs
- Countertrend shorts remain low probability
- Tone: Strong and stable, slightly less stretched than FTSE.
FTSE100 Roadmap
- Above 10,190: Buy dips.
- Above 10,246: Momentum continuation toward 10,277–10,330.
- Below 10,110: Deeper pullback toward 10,075–10,050.
Today’s Likely Path
- Early: Shallow pullbacks.
- Mid/Late: Test 10,246, then 10,277.
- Best bull case: 10,320–10,330.
- Worst case: Controlled dip to 10,190, buyers defend.
Well that was quite the late push from the bulls on the FTSE100 yesterday as money seemed to cycle into more defensive type stocks as US tech sold off, and we saw the FTSE100 break above the 10180 level to manage an out of hours high at 10230. That has been showing as the daily resistance level above 10180 level for a while as you know, so the bulls will be aiming to break above that next. If they manage to do so then a test of the 10262 key fib looks likely, and we may well see the bears have a go here. It's certainly squeezing any bears that thought 10000 was a locked in shorting level!
Initial support is at the daily pivot at the 10192 and we also have the green 30m coral here so I would like to see any test of this hold to then tee up a push towards the 10230 again.
If the bears were to break this then we may well see a slide down to the 10140 area where we have the 30m 200ema and also the key fib. That said I am more inclined to go with a rise and dip playing out today.
Above 10270 then the 10300 is likely to attract being the round number, and then 10331 R3. That does feel a tad optimistic though we have just had a slight beat on GDP at 0.3%. Not exactly setting the world alight there though and probably a pre Christmas blip.
The S&P500 bulls are also fighting back put of hours getting some buying going from the low at 6885 last night and it is now at 6935. If they can defend the daily pivot at 6920 then we may well see a rise to test the 2h resistance levels at the 6951-6958 area. Above this then R2 at 6991 is possible. Below the pivot however then look for a slide down to the 6884 S1 and then 6868 key fib.
The DAX40 is a similar picture in that the bulls will need to defend the daily pivot at the 25326 level otherwise we will see a slide down to the 25142 key fib. If the pivot is defended then I am looking for a test of the Hull MA at the 25450 area, and 25483 fib level above that.
Good luck today.
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