Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks

$DIA, $DAX, $DJSH, $N300, $NSEI

Commentary: There has been talk of concern over tightening of financial regulations, do not see it now. PE

DJIA at 21637.74, +0.39% closed above 21600, breaking a major long term resistance, if it holds I see the rally to continue towards 22000 a Key resistance. A small dip from 22000 is possible before it resumes its rally towards 22500 and higher longer term.

DAX at 12631.72, -0.08% rose sharply last week and may well continue towards 12750-12800 before again coming back towards current marks. Near term looks Bullish to me.

Shanghai (3189.48, -1.02%) fell to levels near 3139 in the morning trade before again recovering to  3190, 1st support is seen near 3170, if holds could keep the prices higher near term. A bounce back towards 3200+ seen near term.

Nikkei at 20118.86, +0.09% needs to bounce back from current marks to move North towards 20300 and higher, or a break below 20000 is possible. For now I prefer to see a bounce to 20300 or so.

Nifty at 9886.35, -0.05% has the ability to move up towards 10000 in the coming sessions before it comes down to 9800. Near term looks Bullish 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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