Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks


Commentary: DJIA’s Key support held. PE

DJIA at 25520.96, -2.54%) has seen the sharpest decliner since the rally that started from levels near 15500 in February 2016. With this there could be some possibility of some more fall towards 25000-24500 levels before resuming the uptrend. Near term looks Bearish in here within the broad long term up trend.

DAX at 12785.16, -1.68% is trading lower and could test support at 12700, which may hold in here, and then may bounce to 13000. A break below 12700 could turn Bearish medium term, the focus on 12600-12400. Watch carefully in here.

Nikkei at 22728.83,-2.34% gaped opened down Monday and is trading near 1st support at 22700. A break below this mark, if seen and sustained indicates Bearishness to 22600-22400 medium term. Or, a bounce to 23000 or higher is possible.

Watch carefully in here too.

Shanghai at 3443.11, -0.55% has tested to 3390, and now may see a rise to 3510 near term. Or, barring that a within 3390-3500 is possible near term.

Nifty at 10760.60, -2.33%, and Sensex at 35066.75, -2.34% fell and could test 1st support at 10550 and 34000 respectively. Then a short bounce may happen. Near term looks Bearish to me.

Have a terrific week.

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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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