Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks

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

Commentary: Overall, I am Bearish near term. PE

DJIA at 23860.46, -4.15% came off to re-test 24000 indicating that the fall may not be over yet. There is good support in the 23600-24000 area, which may hold in here.

DAX at 12260.29, -2.62% came off, as Key resistance at 12700 is holding. Now need to see if the price falls below 12200 to test 12000 in here. A clear break below 12200 could push it to next support at 11870.

Nikkei at 21185.76, -3.22% tested support at 21000 seen on the 3-Day candle. While this holds, there is room for a bounce to 23000. But, a clear break South could make the index vulnerable to a fall to 20500 or lower medium term.

Shanghai at 3090.34, -5.26% continues to fall, breaking below the weekly support. While the fall continues, the index could be headed towards 3050-3000 early next week.

Nifty at 10576.85, +0.96%, and Sensex at 34413.16, +0.97% recovered a bit, but could see lower marks Friday. The indices are likely to re-tests immediate supports near 10380 and 33750 respectively or lower next week.

Have a terrific weekend.

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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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