The FTSE 100 ended higher on Tuesday, supported by gains in shares of banks and miners amid thin trading volume ahead of the Christmas break. The UK’s blue-chip FTSE 100 closed 0.3% higher, extending its upward momentum from last week after the Bank of England’s 25-basis-point interest rate cut pushed the index to a five-week high.
FTSE100 Bias
- BIAS: BULLISH TREND, HOLIDAY RANGE
- State
- Higher-timeframe trend remains bullish (rising daily channel intact).
- Price sitting around the daily pivot (~9,880s), just below recent highs.
- Momentum positive but stretched after December rally.
- Intraday structure = range / pause, not momentum.
- Bias
- Trend: Bullish
- Intraday: Range-bound
- Behaviour today: Buy dips at support, fade extremes, avoid chasing
- FTSE is not weak, but upside progress likely slow today.
- Roadmap
- Above 9,900 → cautious bullish
- 9,840–9,900 → range
- Below 9,842 → soft bearish drift
- Avoid forcing trades mid-range
S&P500 Bias
- BIAS: STRONG BULLISH, LOW-ENERGY
- State
- Firmly above daily EMA20 & EMA50.
- No distribution or lower-high structure.
- Classic holiday grind / sideways-to-up behaviour.
- Seasonal tailwinds supportive.
- Bias
- Trend: Strong bullish
- Intraday: Sideways → slow grind higher
- Invalidation: Only on daily close below EMA50 (unlikely today)
- S&P continues to anchor global risk-on sentiment.
DAX40 Bias
- BIAS: BULLISH BUT STRETCHED
- State
- Clear higher highs / higher lows remain intact.
- Still above key daily EMAs.
- December rally extended; momentum cooling slightly.
- Thin liquidity increases risk of false breaks.
- Bias
- Trend: Bullish
- Intraday: Consolidation / shallow pullbacks
- Risk: Short-term overextension, not reversal
- DAX remains the European leader, but expect pauses rather than strong trends today.
Its a half day today and I am thinking that we may well see an early push from the bulls if they can break above the 9900 resistance and a target of the 9940 area where we have the key fib and the top of the 20d Raff channel. We may well then see them try and consolidate around this area to go into the holiday period on the back of some strength.
The key will be the daily pivot level of 9871 holding as support as if that breaks then the bears will be trying to take it down to the 9840 and possibly 9810 support levels. That said, we may well have the tailwind of the Santa Rally in play for today so a bullish bias is probably better!
With the drop yesterday the 2h chart remains bearish and the Hull MA is at 9902 so again showing that the bulls will need to break above this level. If they were to break above 9940 then the next key level is 9976 – might be a big ask for today but with thin volume and a bit of exuberance it’s not impossible.
Similar picture for the DAX40 and S&P500 with a potential rise to test the 24480 and 6940 resistance levels. The daily pivots at 24313 and 6891 are the first support levels in play and may be similar to the FTSE100 pattern today with an initial move higher and then some consolidation.
Good luck today and I wish you and yours a very Merry Christmas and a Happy New Year. Here’s to lots of winning trades in 2026!