Technical analysis for 8th January 2026
FTSE100 Bias
- BIAS: STRONG BULLISH (LEADER / ACCEPTANCE PHASE)
- Price holding above 10,000 → psychological level accepted.
- Structure firmly higher highs / higher lows inside a rising daily channel.
- Intraday action = bullish consolidation / flag, not distribution.
- Pullbacks remain shallow and bought.
- FTSE stance today:
- Buy dips / trend continuation
- First caution only on a sustained move back below ~9,980–10,000
S&P500 Bias
- BIAS: STRONG BULLISH (GLOBAL DRIVER)
- Firmly above daily EMA20 and EMA50.
- No topping or distribution structure.
- Volatility contained → grind-higher regime typical of early January.
- Continues to anchor global risk sentiment.
- S&P stance today:
- Trend-following longs favoured, dips are opportunities.
DAX40 Bias
- BIAS: BULLISH CONTINUATION
- Trend remains intact with higher highs / higher lows.
- Above all key daily moving averages.
- Any weakness so far is corrective, not impulsive.
- Supported by both FTSE strength and US risk-on tone.
- DAX stance today:
- Buy dips preferred, avoid countertrend shorts.
FTSE100 Roadmap
- Below 10,055:
- Rallies are sells
- At 9,950–9,980:
- Watch for buyers to re-enter
- Below 9,950:
- Daily structure weakens → deeper pullback risk
The drop from 10150 continues to play out as the New Year exuberance starts to fade, however the bulls will be trying to defend the 10000 level first thing this morning. If they manage that then a rally towards the 10055 daily pivot level would be likely, and ultimately I am thinking that we could see a test of the 10100 today and with the 2h Hull MA here, another drop off starting there.
As well as the round number support, just below this we have the S1 level at 9994 to lend some help to the bulls, but if the bears were to break below this then 9983 key fib, and 9956 S2 are lower supports. Below 9950 and it starts to look a lot weaker as this is the bottom of both the Raff channels and a move below them is likely to give the bears the momentum.
That said I am more inclined to go with he higher supports holding today, as the S&P500 will also be keen to defend the 6900 level initially which will help the bullish sentiment for the FTSE100. We also head towards NFP tomorrow....
Looks like we will also see an initial climb on the S&P500 and DAX40 this morning towards the 6930 and 25250 resistance levels respectively. Whilst the supports hold of 6900 and 25000 then it is still in buy the dip mode, though as mentioned yesterday a bit more caution is now prudent. Just need some more MSM headlines about buying stocks and we will have confirmation that we are about to drop more!
Good luck today.
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