Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks


Commentary: DJIA bounce off of the 10% mark Monday, tested it Tuesday, and bounced sharply into the Green.PE

DJIA at 24912.77, +2.33% recovered the bottom test Tuesday and can rise above 25500 near term. While weekly support at 23600 holds, a further bounce in the next few sessions is possible.

DAX at 12392.66, -2.32% traded down after a gap down open, but recover some from support near 12200.

Note: 12200-12000 is a important support, and is likely to hold now, thus limiting further fall in DAX now.

Nikkei at 22270.56, +3.06% came test the support near 21000 before bouncing back to 22500. A rise above 22750 is needed to resume the uptrend. Barring that could be some range-trade below 22750 or a further fall towards 21000. Now a recovery is expected limiting the fall to 21000.

Shanghai at 3339.07, -0.94% fell reacting to the fall in other major global indices, testing 3360 as expected. Support is seen near 3340,while that holds, the index move up to 3500 and higher near term.

Nifty at 10498.25, -1.58%, and Sensex at 34195.94, -1.61% recovered Tuesday in 2-H of the session bouncing from 1st, and while 10260 holds in Nifty and 33500 on the Sensex the indices could head to 10750 and 35000 respectively.

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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