Morning Briefing: Major World Equities Market Indexes
$DIA, $DAX, $DJSH, $N300, $NSEI
Commentary: Again, overall global stock market indexes look Bullish in here. PE
In Friday’s US trading session was eventful in terms of trade-related headlines, but uneventful for the major averages, which finished flat to unchanged.
The S&P 500 (Unch) added less than a point, the NAS Comp (+0.3%) advanced a bit, and the DJIA (-0.1%) finished a bit lower.
President Trump has not made his final decision regarding this round of tariffs, which, at $200-B, would be the largest tranche to date.
On a related note, NAFTA negotiations continuee in Washington, with the US and Mexico working to reach an agreement with Canada by the end of the week.
DJIA at 25964.82, -0.085% is holding below resistance on the 3-Day candle. DJIA was closed Monday. DIA could come off to 25500 before again resuming its rally. Medium term looks Bullish to me.
DAX at 12346.41, -0.14% has support at 12000 and while it holds, DAX could bounce to 12600-12700 near term. Test to 12000 is possible sometime during this week followed by a bounce.
Nikkei at 22715.09, +0.034% look neutral in here. But, while below 23000, there is the possibility of a fall to 22400 near term. Although the weekly lines looks Bullish longer term, a dip to 22400 looks likely before the price starts to move North again.
Shanghai at 2722.26, +0.056% moved up a bit, but overall trade within the 2650-2750 range looks possible near term.
Nifty at 11582.35, -0.84% broke below support. The resistance on the 3-Day candle chart has held, and could turn Bearish for Nifty during this week. A fall to 11400 cannot not be negated near term. USD/NR moved up and above 71 into the close of the session Monday and while the Rupee weakness continues, Nifty can come off further near term and limit further Northside action in here.
Have a terrific week