Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks


Commentary: Nothing New.PE

DJIA at 26252.12, +0.16% was stable Wednesday No major movement expected in here. Trading within 26000-26500 is seen near term.

DAX at 13414.74, -1.07% came off from 13600 to re-test 13400 Wednesday. While trading above 13400, there could be chances of a rise to 13600 or higher in here, or a fall back to 13300 or lower is expected.

Nikkei at 23721.28, -0.92% came off a bit, as USD weakness brings down USD/JPY below 110. A fall back towards 23600-23500 is possible now, while the USD/JPY trades lower.

Shanghai at 3545.36, -0.40% is down Thursday, but is likely to hold below 1st resistance at 3570, as seen in the 3-day candles. On a clear break above 3570, then see 3600.

Nifty at 11086.00, +0.02%, and Sensex at 36161.64, +0.06% were unable to hold intra-day highs Wednesday. Some consolidation is expected for 3-4 sessions.

Note: a maximum upside of 11400 on Nifty and 36750 on Sensex is what I see. While trading below these marks, I look for a sharp pullback soon, or a clear break above 11400 and 36750 respectively will force me to review targets.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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