Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks

$DIA, $DAX, $DJSH, $N300, $NSEI

Commentary: The world’s major stock indices spiked Monday. DJIA, DAX rallied, and Nikkei opened higher. Shanghai may be in a pause mode in here. Nifty looks Bullish for the week to me. PE

DJIA at 22057.37, +1.19% traded sideways since mid-August, built base, gathering momentum for a sharp rise seen Monday, 1st resistance is seen at 22100, which is likely to break, the targeting 22400 sooner rather than later.

DAX at 12475.24, +1.39% gaped up at the open, and rose. The Bullish momentum looks strong now and could drive DAX to 12750-12800 again.

Nikkei at 19742.20, +1.00% gaped up above my 1st resistance at 19600. A test of 19900-20200 is seen near term.

Shanghai at 3375.37, -0.03% may test 3400 in here. A slight fall near term could be helpful to gain some more momentum to resume the uptrend. Now may see consolidation between 3400-3300.

Nifty at 10006.05, +0.72% may well re-test 10100 or higher now, while 1st support near 9900 holds, then after a dip can happen.

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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