Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks


Commentary: Global stocks are in pull back phase and could test lower near term before resuming the upward rally. PE

DJIA at 20606.93, -1.78% rose from just below 20600. Overall broad trade within 21170-20410 may continue during the coming sessions, keeping the index in sideways consolidation near term.

DAX at 12590.06, -0.33% is in a short term correction phase, and could come off towards 12400-12300 near term before bouncing. That could create some more room on the Northside long term.

Shanghai at 3090.26 is stable and could bounce back from 3070-3050, expect the index to trade within 3050-3170 near term.

Nikkei at 19523.27, -0.16% is trading lower as expected and could fall towards 19296-19200 near term before bouncing to 19600. But looking at the rise in USD/JPY, the fall in Nikkei could be limited.

Nifty at 9429.45, -1.01% came off from marks near 9530 and could see a small dip Friday towards 9300 before bouncing. There is room for falling towards 9300-9265 in the coming sessions before resuming the rally.

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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