Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks

$DIA, $DAX, $DJSH, $N300, $NSEI, $BSESN

Commentary: DJIA bounce off of the 10% mark Monday, tested it Tuesday, and bounced sharply into the Green, moving up and down testing and retesting on heavy volume.PE

DJIA at 24893.35, -0.08% moved up to test near 25500. Near term is likely to see some ranged-trade in the 25500-24000 ares. A clear break above 25500 if seen over Thursday and Friday could DJIA to 26000.

DAX at 12590.43, +1.60% moved up from 12200, but a rise above 12700 is needed to drive DAX to higher near term. While below 1st resistance 12700, there could be another chance of a fall back to 12400-12300.

Nikkei at 21700.94, +0.26% may move to 22600 while Key support at 21000 holds in here. Near term looks Neutral to Bullish while trading above 21000.

Shanghai at 3282.74, -0.80% broke below channel support seen on the 3-day candles. If the index comes back above 3300, then it could move to 3450 near term, or a fall to 3250 or lower looks likely while trading below 3300.

Nifty at 10476.70, -0.21%, and Sensex at 34082.71, -0.33% came off in 2-H of the session Wednesday to close lower. Weakness in the indices may not have ended yet, and while it remains in a pause mode look for a re-test of 10380 and 33750. Watch price action near mentioned support marks.

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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